Investors Buy Shares of Home Depot (HD) on Weakness

Traders purchased shares of Home Depot Inc (NYSE:HD) on weakness during trading hours on Thursday. $327.02 million flowed into the stock on the tick-up and $250.34 million flowed out of the stock on the tick-down, for a money net flow of $76.68 million into the stock. Of all stocks tracked, Home Depot had the 2nd highest net in-flow for the day. Home Depot traded down ($2.17) for the day and closed at $174.87

A number of research firms have recently commented on HD. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a report on Monday. Bank of America set a $195.00 target price on Home Depot and gave the stock a “hold” rating in a research note on Monday, December 10th. Credit Suisse Group decreased their price objective on shares of Home Depot from $204.00 to $194.00 and set a “neutral” rating for the company in a report on Thursday, November 15th. Deutsche Bank dropped their target price on shares of Home Depot from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Finally, Citigroup reduced their price objective on shares of Home Depot from $227.00 to $226.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $204.60.

The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. The company has a market cap of $199.33 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 1.39 and a beta of 1.17.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.24. The firm had revenue of $26.30 billion for the quarter, compared to the consensus estimate of $26.23 billion. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. On average, research analysts forecast that Home Depot Inc will post 9.81 EPS for the current fiscal year.

In related news, Director Wayne M. Hewett bought 250 shares of Home Depot stock in a transaction on Wednesday, November 21st. The shares were purchased at an average price of $169.62 per share, for a total transaction of $42,405.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $508,860. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig A. Menear sold 117,327 shares of Home Depot stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $180.42, for a total value of $21,168,137.34. Following the completion of the sale, the chief executive officer now directly owns 264,970 shares in the company, valued at approximately $47,805,887.40. The disclosure for this sale can be found here. In the last quarter, insiders have bought 13,750 shares of company stock worth $2,401,470 and have sold 137,987 shares worth $24,769,526. Company insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ironwood Financial llc grew its holdings in Home Depot by 39.5% during the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock valued at $49,000 after purchasing an additional 81 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $107,000. CSat Investment Advisory L.P. bought a new position in Home Depot in the 2nd quarter worth $112,000. Mainstay Capital Management LLC ADV raised its position in shares of Home Depot by 203.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 597 shares of the home improvement retailer’s stock valued at $116,000 after buying an additional 400 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC raised its position in Home Depot by 84.6% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 600 shares of the home improvement retailer’s stock worth $117,000 after purchasing an additional 275 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

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About Home Depot (NYSE:HD)

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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