Home Depot (NYSE:HD) Price Target Raised to $270.00

Home Depot (NYSE:HD) had its price target lifted by Wells Fargo & Co from $260.00 to $270.00 in a report released on Tuesday, The Fly reports. Wells Fargo & Co currently has an overweight rating on the home improvement retailer’s stock.

Several other research firms have also recently commented on HD. Zacks Investment Research raised Home Depot from a sell rating to a hold rating and set a $231.00 target price for the company in a research note on Thursday, April 30th. Jefferies Financial Group raised their target price on Home Depot from $228.00 to $269.00 and gave the stock a buy rating in a research note on Wednesday, May 13th. Nomura Securities raised their target price on Home Depot from $204.00 to $215.00 and gave the stock a buy rating in a research note on Wednesday, April 1st. Raymond James reduced their price objective on Home Depot from $270.00 to $230.00 and set an outperform rating for the company in a research note on Monday, May 4th. Finally, Cfra raised Home Depot from a hold rating to a strong-buy rating and set a $255.00 price objective for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $251.03.

Shares of HD traded up $1.00 during mid-day trading on Tuesday, reaching $241.88. 3,028,465 shares of the company were exchanged, compared to its average volume of 6,273,163. Home Depot has a 52 week low of $140.63 and a 52 week high of $248.32. The stock has a market capitalization of $255.84 billion, a PE ratio of 23.98, a PEG ratio of 2.19 and a beta of 1.03. The business has a 50 day simple moving average of $212.69 and a two-hundred day simple moving average of $219.44.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the 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 business had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. During the same period in the prior year, the business earned $2.27 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Home Depot will post 9.83 EPS for the current fiscal year.

The firm also recently declared 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Wednesday, June 3rd. Home Depot’s payout ratio is 58.54%.

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

Several large investors have recently made changes to their positions in the company. Cim Investment Mangement Inc. raised its position in shares of Home Depot by 4.7% in the 1st quarter. Cim Investment Mangement Inc. now owns 5,155 shares of the home improvement retailer’s stock worth $962,000 after acquiring an additional 233 shares in the last quarter. Equitable Trust Co. grew its stake in shares of Home Depot by 46.8% in the 1st quarter. Equitable Trust Co. now owns 33,230 shares of the home improvement retailer’s stock worth $6,204,000 after buying an additional 10,599 shares during the last quarter. Capital Advisors Inc. OK grew its stake in shares of Home Depot by 614.7% in the 1st quarter. Capital Advisors Inc. OK now owns 113,926 shares of the home improvement retailer’s stock worth $21,271,000 after buying an additional 97,986 shares during the last quarter. Bay Harbor Wealth Management LLC grew its stake in shares of Home Depot by 15.2% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 318 shares of the home improvement retailer’s stock worth $59,000 after buying an additional 42 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Home Depot by 516.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 201,920 shares of the home improvement retailer’s stock worth $37,701,000 after buying an additional 169,147 shares during the last quarter. 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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