Stifel Nicolaus Boosts Home Depot (NYSE:HD) Price Target to $260.00

Home Depot (NYSE:HD) had its price objective increased by Stifel Nicolaus from $220.00 to $260.00 in a report issued on Wednesday, The Fly reports. The firm currently has a buy rating on the home improvement retailer’s stock.

HD has been the topic of a number of other research reports. Loop Capital upgraded shares of Home Depot from a hold rating to a buy rating and set a $235.00 price target on the stock in a research note on Friday, March 27th. Nomura Securities boosted their price objective on shares of Home Depot from $204.00 to $215.00 and gave the company a buy rating in a report on Wednesday, April 1st. Jefferies Financial Group boosted their price objective on shares of Home Depot from $228.00 to $269.00 and gave the company a buy rating in a report on Wednesday, May 13th. Credit Suisse Group cut their price objective on shares of Home Depot from $255.00 to $215.00 and set an outperform rating for the company in a report on Wednesday, April 1st. Finally, SunTrust Banks cut their price objective on shares of Home Depot from $240.00 to $220.00 and set a hold rating for the company in a report on Thursday, April 16th. One 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 assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $251.03.

HD traded up $1.00 on Wednesday, reaching $241.88. The company had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. Home Depot has a fifty-two week low of $140.63 and a fifty-two week high of $248.32. The stock has a market cap of $258.73 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.22 and a beta of 1.03. The company’s fifty day moving average is $213.77 and its 200 day moving average is $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 the Zacks’ consensus estimate of $2.27 by ($0.19). Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The company had revenue of $28.26 billion during the quarter, compared to analyst estimates of $27.59 billion. During the same quarter last year, the company posted $2.27 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Home Depot will post 9.79 earnings per share for the current fiscal year.

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

In related news, EVP William G. Lennie sold 17,993 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Home Depot by 18.8% in the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock valued at $4,155,141,000 after acquiring an additional 3,515,402 shares during the period. Capital Research Global Investors increased its position in Home Depot by 28.6% in the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock valued at $3,934,286,000 after acquiring an additional 4,690,072 shares during the period. Geode Capital Management LLC increased its position in Home Depot by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock valued at $3,160,862,000 after acquiring an additional 191,403 shares during the period. Norges Bank acquired a new position in Home Depot in the 4th quarter valued at approximately $2,558,090,000. Finally, Bank of New York Mellon Corp increased 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 during the period. 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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