Home Depot’s (HD) Buy Rating Reaffirmed at Longbow Research

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Longbow Research restated their buy rating on shares of Home Depot (NYSE:HD) in a research report released on Wednesday morning, Stock Target Advisor reports. The brokerage currently has a $255.00 price objective on the home improvement retailer’s stock.

Several other brokerages have also recently issued reports on HD. Jefferies Financial Group upped their price objective on Home Depot from $246.00 to $268.00 and gave the stock a buy rating in a report on Friday, November 15th. Telsey Advisory Group upped their price objective on Home Depot from $210.00 to $220.00 and gave the stock a market perform rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Home Depot from $222.00 to $262.00 and gave the stock an overweight rating in a report on Friday, November 15th. Nomura started coverage on Home Depot in a report on Friday, November 8th. They set a neutral rating and a $240.00 price objective on the stock. Finally, Credit Suisse Group upped their price objective on Home Depot from $213.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company. Home Depot has a consensus rating of Buy and an average target price of $237.52.

Shares of HD traded down $2.36 during mid-day trading on Wednesday, hitting $218.54. 7,420,275 shares of the stock were exchanged, compared to its average volume of 4,037,806. The company has a market cap of $259.87 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.36 and a beta of 1.04. Home Depot has a 52-week low of $158.09 and a 52-week high of $239.31. The firm has a 50-day moving average of $233.39 and a two-hundred day moving average of $216.27.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 19th. The home improvement retailer reported $2.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.53. The business had revenue of $27.22 billion for the quarter, compared to analysts’ expectations of $27.51 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 EPS. On average, analysts predict that Home Depot will post 10.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.49%. Home Depot’s payout ratio is presently 55.01%.

In other Home Depot news, EVP Edward P. Decker sold 22,908 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $227.15, for a total value of $5,203,552.20. Following the sale, the executive vice president now owns 87,343 shares in the company, valued at $19,839,962.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new stake in Home Depot in the second quarter worth $25,000. Enterprise Trust & Investment Co purchased a new stake in Home Depot in the third quarter worth $27,000. Julex Capital Management LLC purchased a new stake in Home Depot in the third quarter worth $29,000. Evolution Wealth Advisors LLC purchased a new stake in Home Depot in the second quarter worth $31,000. Finally, Proffitt & Goodson Inc. increased its stake in Home Depot by 106.2% in the third quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 70.11% of the company’s stock.

About Home Depot

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Analyst Recommendations for Home Depot (NYSE:HD)

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