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