Guggenheim Downgrades Home Depot (NYSE:HD) to Neutral
Guggenheim downgraded shares of Home Depot (NYSE:HD) from a buy rating to a neutral rating in a research report released on Tuesday morning, 24/7 WallStreet reports.
HD has been the topic of a number of other research reports. Argus set a $240.00 target price on Home Depot and gave the company a buy rating in a report on Wednesday, August 21st. Robert W. Baird lifted their target price on Home Depot from $220.00 to $230.00 and gave the company an outperform rating in a report on Wednesday, August 21st. SunTrust Banks reiterated a hold rating and issued a $208.00 target price on shares of Home Depot in a report on Wednesday, August 21st. Zacks Investment Research upgraded Home Depot from a sell rating to a hold rating in a report on Thursday, May 23rd. Finally, Citigroup lifted their target price on Home Depot from $246.00 to $269.00 and gave the company a buy rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $221.39.
HD stock opened at $224.67 on Tuesday. Home Depot has a 52-week low of $158.09 and a 52-week high of $235.49. The stock’s fifty day simple moving average is $219.47 and its 200-day simple moving average is $204.89. The stock has a market capitalization of $252.12 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, September 4th. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.
In other Home Depot news, EVP William G. Lennie sold 9,200 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total value of $2,024,460.00. Following the transaction, the executive vice president now directly owns 84,123 shares of the company’s stock, valued at $18,511,266.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Carol B. Tome sold 145,400 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the completion of the transaction, the chief financial officer now directly owns 496,374 shares in the company, valued at $108,725,760.96. The disclosure for this sale can be found here. Insiders sold 177,508 shares of company stock worth $39,076,428 over the last three months. 0.27% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HD. Krane Funds Advisors LLC purchased a new stake in shares of Home Depot during the second quarter worth about $25,000. Evolution Wealth Advisors LLC bought a new stake in Home Depot in the second quarter valued at about $31,000. Virtus ETF Advisers LLC bought a new stake in Home Depot in the fourth quarter valued at about $32,000. Thor Advisors LLC bought a new stake in Home Depot in the first quarter valued at about $32,000. Finally, Enlightenment Research LLC bought a new stake in Home Depot in the fourth quarter valued at about $34,000. 69.92% of the stock is currently owned by institutional investors.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
Recommended Story: The primary rules of Elliott Wave theory
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.