Loop Capital Boosts Home Depot (NYSE:HD) Price Target to $265.00

Home Depot (NYSE:HD) had its target price raised by equities researchers at Loop Capital from $235.00 to $265.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Loop Capital’s price target points to a potential upside of 9.97% from the stock’s current price.

HD has been the subject of several other research reports. Jefferies Financial Group increased their price target on shares of Home Depot from $228.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Credit Suisse Group increased their price target on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday. Nomura Instinet increased their price target on shares of Home Depot from $240.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Home Depot from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Home Depot from $241.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and a consensus target price of $251.03.

Shares of HD stock traded up $0.09 on Wednesday, hitting $240.97. 1,508,205 shares of the company’s stock traded hands, compared to its average volume of 5,816,201. Home Depot has a one year low of $140.63 and a one year high of $248.32. The company’s fifty day simple moving average is $212.69 and its 200 day simple moving average is $219.44. The stock has a market capitalization of $255.84 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.19 and a beta of 1.03.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.19). The firm had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 EPS. As a group, equities research analysts anticipate that Home Depot will post 9.83 EPS for the current year.

In related news, EVP William G. Lennie sold 9,848 shares of Home Depot stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $234.34, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HD. Orser Capital Management LLC increased its stake in Home Depot by 1.4% during the 4th quarter. Orser Capital Management LLC now owns 8,227 shares of the home improvement retailer’s stock valued at $1,788,000 after purchasing an additional 114 shares in the last quarter. Empire Life Investments Inc. increased its stake in Home Depot by 47.8% during the 4th quarter. Empire Life Investments Inc. now owns 987 shares of the home improvement retailer’s stock valued at $216,000 after purchasing an additional 319 shares in the last quarter. BLB&B Advisors LLC increased its stake in Home Depot by 4.1% during the 4th quarter. BLB&B Advisors LLC now owns 3,715 shares of the home improvement retailer’s stock valued at $811,000 after purchasing an additional 145 shares in the last quarter. First Citizens Financial Corp bought a new stake in Home Depot during the 4th quarter valued at about $706,000. Finally, Hudock Capital Group LLC increased its stake in Home Depot by 10.6% during the 4th quarter. Hudock Capital Group LLC now owns 2,125 shares of the home improvement retailer’s stock valued at $466,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds 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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