Home Depot’s (HD) “Hold” Rating Reaffirmed at Credit Suisse Group
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Home Depot from a buy rating to a hold rating in a research note on Monday. Zelman & Associates lowered shares of Home Depot from a buy rating to a hold rating in a research note on Monday. Morgan Stanley set a $185.00 price objective on shares of Home Depot and gave the company a buy rating in a research note on Friday, December 8th. Deutsche Bank raised their price objective on shares of Home Depot from $176.00 to $200.00 and gave the company a buy rating in a research note on Thursday, December 7th. Finally, Oppenheimer restated a buy rating on shares of Home Depot in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Home Depot has a consensus rating of Buy and an average target price of $182.06.
Shares of Home Depot (HD) opened at $181.80 on Tuesday. Home Depot has a 12-month low of $133.05 and a 12-month high of $186.31. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. The company has a market cap of $212,822.27, a PE ratio of 25.31, a PEG ratio of 1.85 and a beta of 1.11.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.53 billion. During the same period last year, the company posted $1.60 EPS. Home Depot’s revenue was up 8.1% on a year-over-year basis. research analysts predict that Home Depot will post 7.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is presently 49.44%.
Home Depot announced that its board has initiated a share buyback plan 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 reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Shelton Capital Management grew its holdings in shares of Home Depot by 4.4% in the third quarter. Shelton Capital Management now owns 11,909 shares of the home improvement retailer’s stock worth $1,948,000 after purchasing an additional 503 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Home Depot in the third quarter worth about $13,966,000. Public Employees Retirement System of Ohio grew its holdings in shares of Home Depot by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 875,231 shares of the home improvement retailer’s stock worth $143,153,000 after purchasing an additional 2,970 shares during the last quarter. Atlantic Trust LLC grew its holdings in shares of Home Depot by 6.9% in the third quarter. Atlantic Trust LLC now owns 21,740 shares of the home improvement retailer’s stock worth $3,556,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in shares of Home Depot in the third quarter worth about $248,000. 70.37% of the stock is currently owned by institutional investors.
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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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