Home Depot (NYSE:HD) Price Target Raised to $250.00

Home Depot (NYSE:HD) had its target price upped by Bank of America from $238.00 to $250.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. Bank of America currently has a neutral rating on the home improvement retailer’s stock.

HD has been the topic of a number of other reports. UBS Group decreased their target price on Home Depot from $268.00 to $250.00 and set a buy rating on the stock in a report on Tuesday, April 7th. Telsey Advisory Group raised their price target on Home Depot from $230.00 to $244.00 and gave the company a market perform rating in a report on Wednesday, February 26th. Zacks Investment Research raised Home Depot from a sell rating to a hold rating and set a $231.00 price target on the stock in a report on Thursday, April 30th. Piper Sandler raised their price target on Home Depot from $231.00 to $236.00 and gave the company a neutral rating in a report on Friday, May 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $241.00 to $260.00 and gave the company an overweight rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $251.03.

Shares of HD stock traded up $1.00 on Tuesday, reaching $241.88. The stock had a trading volume of 3,028,465 shares, compared to its average volume of 6,273,163. The stock has a market cap of $255.84 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 2.19 and a beta of 1.03. Home Depot has a 1 year low of $140.63 and a 1 year high of $248.32. The company has a 50 day simple moving average of $212.69 and a 200 day simple moving average of $219.44.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm had revenue of $28.26 billion during the quarter, compared to analysts’ expectations of $27.59 billion. During the same quarter last year, the business earned $2.27 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Home Depot will post 9.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Home Depot’s dividend payout ratio (DPR) is presently 58.54%.

In other news, EVP William G. Lennie sold 9,848 shares of Home Depot stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $234.34, for a total transaction of $2,307,780.32. Following the completion of the sale, the executive vice president now owns 37,995 shares of the company’s stock, valued at $8,903,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William G. Lennie sold 17,993 shares of Home Depot stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the sale, the executive vice president now directly owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Several institutional investors have recently bought and sold shares of HD. Your Advocates Ltd. LLP bought a new position in Home Depot in the first quarter worth approximately $27,000. Lion Street Advisors LLC bought a new position in Home Depot in the first quarter worth approximately $28,000. Litman Gregory Asset Management LLC raised its stake in Home Depot by 2,042.9% in the fourth quarter. Litman Gregory Asset Management LLC now owns 150 shares of the home improvement retailer’s stock worth $33,000 after buying an additional 143 shares in the last quarter. Evolution Wealth Advisors LLC raised its stake in Home Depot by 85.9% in the fourth quarter. Evolution Wealth Advisors LLC now owns 158 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 73 shares in the last quarter. Finally, John W. Brooker & Co. CPAs bought a new position in Home Depot in the fourth quarter worth approximately $37,000. 69.75% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

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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Analyst Recommendations for Home Depot (NYSE:HD)

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