Home Depot (NYSE:HD) PT Raised to $245.00

Home Depot (NYSE:HD) had its price objective raised by analysts at Morgan Stanley from $215.00 to $245.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s price target points to a potential upside of 1.29% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. UBS Group boosted their price target on shares of Home Depot from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of Home Depot from $231.00 to $236.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. Credit Suisse Group boosted their price target on shares of Home Depot from $215.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Home Depot from $261.00 to $266.00 in a research report on Wednesday. Finally, Bank of America boosted their price objective on shares of Home Depot from $238.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Home Depot has an average rating of “Buy” and a consensus price target of $251.03.

HD traded up $1.00 during trading on Thursday, hitting $241.88. The company had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. The company has a market capitalization of $258.73 billion, a PE ratio of 24.04, a PEG 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 firm’s 50-day moving average price is $213.77 and its 200 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 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 the consensus estimate of $27.59 billion. During the same period last year, the firm earned $2.27 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Home Depot will post 9.79 earnings per share for the current year.

In other Home Depot news, EVP William G. Lennie sold 9,848 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $234.34, for a total value 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 approximately $8,903,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William G. Lennie sold 17,993 shares of the business’s stock in a transaction dated 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 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.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Home Depot by 14.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,400,828 shares of the home improvement retailer’s stock worth $448,259,000 after acquiring an additional 309,587 shares during the period. Mcmillion Capital Management Inc. lifted its holdings in shares of Home Depot by 82.5% during the 1st quarter. Mcmillion Capital Management Inc. now owns 2,327 shares of the home improvement retailer’s stock worth $434,000 after acquiring an additional 1,052 shares during the period. FDx Advisors Inc. lifted its holdings in shares of Home Depot by 16.6% during the 1st quarter. FDx Advisors Inc. now owns 37,766 shares of the home improvement retailer’s stock worth $7,051,000 after acquiring an additional 5,372 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Home Depot by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 7,109,073 shares of the home improvement retailer’s stock worth $1,327,335,000 after acquiring an additional 214,155 shares during the period. Finally, Integrated Investment Consultants LLC lifted its holdings in shares of Home Depot by 3.8% during the 1st quarter. Integrated Investment Consultants LLC now owns 2,566 shares of the home improvement retailer’s stock worth $479,000 after acquiring an additional 94 shares during the period. 69.75% of the stock is owned by hedge funds and other institutional investors.

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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