Home Depot (NYSE:HD) Price Target Raised to $266.00

Home Depot (NYSE:HD) had its price objective increased by Royal Bank of Canada from $261.00 to $266.00 in a report issued on Wednesday morning, The Fly reports.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Home Depot from $228.00 to $269.00 and gave the stock a buy rating in a research note on Wednesday, May 13th. Wells Fargo & Co lifted their target price on Home Depot from $260.00 to $270.00 and gave the stock an overweight rating in a report on Tuesday. Gordon Haskett downgraded Home Depot from an accumulate rating to a hold rating in a report on Wednesday, April 22nd. Credit Suisse Group lifted their target price on Home Depot from $215.00 to $255.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Telsey Advisory Group lifted their target price on Home Depot from $220.00 to $250.00 and gave the stock a market perform rating in a report on Wednesday. One equities research 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 issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $251.03.

Shares of HD stock traded up $1.00 during trading hours 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. Home Depot has a 1 year low of $140.63 and a 1 year high of $248.32. The stock has a market cap of $258.73 billion, a PE ratio of 24.04, a PEG ratio of 2.22 and a beta of 1.03. The stock’s fifty day moving average price is $213.77 and its two-hundred day moving average price is $219.47.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share 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 business had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. During the same quarter in the previous year, the firm posted $2.27 EPS. Home Depot’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Home Depot will post 9.79 earnings per share for the current fiscal year.

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

In related news, EVP William G. Lennie sold 17,993 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 directly owns 54,405 shares in the company, valued at $12,840,668.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of the business’s 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 sale, the executive vice president now owns 37,995 shares of the company’s stock, 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 institutional investors and hedge funds have recently modified their holdings of HD. Your Advocates Ltd. LLP purchased a new stake in Home Depot in the 1st quarter valued at $27,000. Lion Street Advisors LLC purchased a new stake in Home Depot in the 1st quarter valued at $28,000. Litman Gregory Asset Management LLC grew its holdings in Home Depot by 2,042.9% in the 4th quarter. Litman Gregory Asset Management LLC now owns 150 shares of the home improvement retailer’s stock valued at $33,000 after buying an additional 143 shares in the last quarter. Evolution Wealth Advisors LLC grew its holdings in Home Depot by 85.9% in the 4th quarter. Evolution Wealth Advisors LLC now owns 158 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 73 shares in the last quarter. Finally, John W. Brooker & Co. CPAs purchased a new stake in Home Depot in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 69.75% 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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