Home Depot (HD) PT Raised to $215.00
Home Depot (NYSE:HD) had its target price increased by equities researchers at BTIG Research to $215.00 in a research note issued on Thursday. The firm presently has a “buy” rating on the home improvement retailer’s stock. BTIG Research’s target price would indicate a potential upside of 18.92% from the stock’s previous close.
Several other analysts also recently issued reports on HD. Citigroup lifted their price target on shares of Home Depot to $213.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Group reissued a “buy” rating and issued a $182.00 price target on shares of Home Depot in a research report on Thursday, August 10th. Stifel Nicolaus reissued a “buy” rating and issued a $178.00 price target on shares of Home Depot in a research report on Wednesday, August 16th. Robert W. Baird restated an “outperform” rating and set a $195.00 price objective on shares of Home Depot in a research note on Thursday, November 30th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of Home Depot in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $179.82.
Shares of Home Depot (HD) opened at $180.80 on Thursday. The firm has a market cap of $213,522.92, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. Home Depot has a 52-week low of $128.75 and a 52-week high of $186.31.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. equities research analysts forecast that Home Depot will post 7.38 earnings per share for the current fiscal year.
Home Depot announced that its board has approved a share buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in HD. American Beacon Advisors Inc. purchased a new position in Home Depot during the 1st quarter valued at about $100,000. Jacobi Capital Management LLC grew its holdings in Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares in the last quarter. Burt Wealth Advisors grew its holdings in Home Depot by 83.5% during the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock valued at $142,000 after buying an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after buying an additional 340 shares in the last quarter. Finally, Empire Life Investments Inc. grew its holdings in Home Depot by 233.4% during the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock valued at $157,000 after buying an additional 670 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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