Raymond James Raises Home Depot (NYSE:HD) Price Target to $250.00

Home Depot (NYSE:HD) had its target price lifted by Raymond James from $245.00 to $250.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

Other equities analysts have also issued reports about the company. Credit Suisse Group reduced their price objective on Home Depot from $255.00 to $215.00 and set an outperform rating on the stock in a research report on Wednesday, April 1st. Nomura Instinet increased their target price on Home Depot from $240.00 to $252.00 and gave the company a buy rating in a report on Wednesday. Telsey Advisory Group increased their target price on Home Depot from $220.00 to $250.00 and gave the company a market perform rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Home Depot from $241.00 to $260.00 and gave the company an overweight rating in a report on Wednesday, February 26th. Finally, UBS Group dropped their target price on Home Depot from $268.00 to $250.00 and set a buy rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Home Depot currently has an average rating of Buy and an average price target of $251.03.

Shares of Home Depot stock traded up $1.00 during trading on Wednesday, hitting $241.88. 3,041,253 shares of the stock traded hands, compared to its average volume of 5,876,560. The stock has a market cap of $258.73 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.22 and a beta of 1.03. The firm’s fifty day moving average is $213.77 and its 200-day moving average is $219.47. Home Depot has a 52 week low of $140.63 and a 52 week high of $248.32.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). The firm had revenue of $28.26 billion for the quarter, compared to the consensus estimate of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. Home Depot’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.27 earnings per share. As a group, sell-side analysts expect that Home Depot will post 9.79 earnings per share for the current year.

The company also recently announced 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 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, June 3rd. Home Depot’s dividend payout ratio is currently 58.54%.

In related news, EVP William G. Lennie sold 17,993 shares of the firm’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 transaction, 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 filing with the SEC, which can be accessed through this link. Also, EVP William G. Lennie sold 9,848 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of HD. Your Advocates Ltd. LLP bought a new position in Home Depot during the 1st quarter valued at approximately $27,000. Lion Street Advisors LLC bought a new position in Home Depot during the 1st quarter valued at approximately $28,000. Litman Gregory Asset Management LLC increased its position in Home Depot by 2,042.9% during 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 increased its position in Home Depot by 85.9% during 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 bought a new position in Home Depot during the 4th quarter valued at approximately $37,000. 69.75% of the stock is 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.

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Analyst Recommendations for Home Depot (NYSE:HD)

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