The Home Depot, Inc. (NYSE:HD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of The Home Depot, Inc. (NYSE:HD) have earned a consensus recommendation of “Buy” from the twenty-four brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $340.65.

HD has been the topic of a number of research reports. Raymond James raised their target price on shares of The Home Depot from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, August 16th. Loop Capital raised their price target on shares of The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, May 19th. Morgan Stanley raised their price target on shares of The Home Depot from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, May 24th. Royal Bank of Canada raised their price target on shares of The Home Depot from $377.00 to $386.00 and gave the company an “outperform” rating in a report on Wednesday, May 19th. Finally, DA Davidson restated a “neutral” rating on shares of The Home Depot in a report on Wednesday, August 18th.

NYSE HD traded down $2.33 during trading on Tuesday, reaching $333.12. 2,855,628 shares of the company’s stock traded hands, compared to its average volume of 3,967,680. The company has a debt-to-equity ratio of 16.31, a current ratio of 1.06 and a quick ratio of 0.35. The firm has a market cap of $351.56 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. The company’s 50 day simple moving average is $326.92 and its two-hundred day simple moving average is $314.44. The Home Depot has a 12-month low of $246.59 and a 12-month high of $345.69.

The Home Depot (NYSE:HD) last posted its earnings results on Monday, August 16th. The home improvement retailer reported $4.53 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.10. The business had revenue of $41.12 billion for the quarter, compared to the consensus estimate of $40.74 billion. The Home Depot had a net margin of 10.55% and a return on equity of 709.19%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.02 EPS. Research analysts expect that The Home Depot will post 14.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 16th. Shareholders of record on Thursday, September 2nd will be paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, September 1st. The Home Depot’s payout ratio is 54.86%.

The Home Depot declared that its board has authorized a stock repurchase plan on Thursday, May 20th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the home improvement retailer to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, EVP Hector A. Padilla sold 1,154 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $325.62, for a total value of $375,765.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,000 shares of the business’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $328.65, for a total transaction of $1,643,250.00. Following the completion of the sale, the executive vice president now directly owns 19,760 shares of the company’s stock, valued at approximately $6,494,124. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,622 shares of company stock valued at $24,302,611. Insiders own 0.18% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. KB Financial Partners LLC acquired a new position in The Home Depot in the first quarter valued at about $29,000. Elmwood Wealth Management Inc. purchased a new stake in shares of The Home Depot during the first quarter worth approximately $41,000. Atlas Capital Advisors LLC increased its stake in shares of The Home Depot by 38.5% during the second quarter. Atlas Capital Advisors LLC now owns 133 shares of the home improvement retailer’s stock worth $42,000 after buying an additional 37 shares during the period. Twin Lakes Capital Management LLC purchased a new position in The Home Depot in the first quarter valued at approximately $61,000. Finally, Proffitt & Goodson Inc. increased its stake in The Home Depot by 48.3% in the first quarter. Proffitt & Goodson Inc. now owns 224 shares of the home improvement retailer’s stock valued at $68,000 after purchasing an additional 73 shares during the last quarter. 68.97% of the stock is currently owned by hedge funds and other institutional investors.

The Home Depot Company Profile

The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Analyst Recommendations for The Home Depot (NYSE:HD)

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