Home Depot (NYSE:HD) Price Target Raised to $252.00

Home Depot (NYSE:HD) had its target price increased by Nomura from $240.00 to $252.00 in a report published on Wednesday morning, The Fly reports.

HD has been the subject of a number of other research reports. Loop Capital raised their price target on shares of Home Depot from $235.00 to $265.00 and gave the stock a buy rating in a research note on Wednesday. Zacks Investment Research raised shares of Home Depot from a sell rating to a hold rating and set a $231.00 price objective for the company in a report on Thursday, April 30th. Nomura Securities raised their price objective on shares of Home Depot from $204.00 to $215.00 and gave the stock a buy rating in a report on Wednesday, April 1st. Royal Bank of Canada raised their price objective on shares of Home Depot from $261.00 to $266.00 in a report on Wednesday. Finally, Nomura Instinet raised their price objective on shares of Home Depot from $240.00 to $252.00 and gave the stock a buy rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned 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 currently has an average rating of Buy and a consensus target price of $251.03.

HD traded up $1.00 during midday trading on Wednesday, reaching $241.88. 3,041,253 shares of the company’s stock were exchanged, compared to its average volume of 5,876,560. The firm has a market capitalization of $258.73 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.03. Home Depot has a one year low of $140.63 and a one year high of $248.32. The business has a 50-day simple moving average of $213.77 and a two-hundred day simple moving average of $219.47.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). The business had revenue of $28.26 billion for the quarter, compared to the consensus estimate of $27.59 billion. Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 EPS. Analysts predict that Home Depot will post 9.79 EPS for the current fiscal 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 issued 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 of this dividend is Wednesday, June 3rd. Home Depot’s dividend payout ratio is presently 58.54%.

In other Home Depot news, EVP William G. Lennie sold 17,993 shares of Home Depot stock in a transaction 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 completion of the sale, the executive vice president now owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William G. Lennie sold 9,848 shares of Home Depot stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $234.34, for a total transaction of $2,307,780.32. Following the transaction, the executive vice president now directly owns 37,995 shares in the company, valued at $8,903,748.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Home Depot by 18.8% during the first quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after purchasing an additional 3,515,402 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Home Depot by 28.6% during the first quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after purchasing an additional 4,690,072 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.1% during the first quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after purchasing an additional 191,403 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot during the fourth quarter worth $2,558,090,000. Finally, Bank of New York Mellon Corp lifted its position in Home Depot by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock valued at $1,876,628,000 after acquiring an additional 303,357 shares in the last quarter. 69.75% of the stock is currently owned by 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

See Also: Price-Sales Ratio

The Fly

Analyst Recommendations for Home Depot (NYSE:HD)

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