Telsey Advisory Group Boosts Home Depot (NYSE:HD) Price Target to $250.00

Home Depot (NYSE:HD) had its target price increased by Telsey Advisory Group from $220.00 to $250.00 in a research note published on Wednesday morning, Briefing.com Automated Import reports. The firm currently has a market perform rating on the home improvement retailer’s stock.

HD has been the subject of several other reports. Wells Fargo & Co increased their target price on shares of Home Depot from $260.00 to $270.00 and gave the stock an overweight rating in a report on Tuesday. Cfra raised shares of Home Depot from a hold rating to a strong-buy rating and set a $255.00 target price for the company in a report on Wednesday, March 11th. Gordon Haskett lowered shares of Home Depot from an accumulate rating to a hold rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $241.00 to $260.00 and gave the company an overweight rating in a report on Wednesday, February 26th. Finally, Robert W. Baird increased their price objective on shares of Home Depot from $215.00 to $265.00 and gave the company an outperform rating in a report on Monday, May 18th. 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 given a strong buy rating to the stock. Home Depot currently has a consensus rating of Buy and a consensus price target of $251.03.

Home Depot stock traded up $1.00 during midday trading on Wednesday, hitting $241.88. The stock had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. The firm’s fifty day moving average is $213.77 and its two-hundred day moving average is $219.47. The company has a market capitalization of $258.73 billion, a PE ratio of 24.04, a P/E/G ratio of 2.22 and a beta of 1.03. Home Depot has a 52-week low of $140.63 and a 52-week high of $248.32.

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

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

In related news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total value 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 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 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 completion of 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 owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Home Depot by 18.8% during the first quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after purchasing an additional 3,515,402 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Home Depot by 28.6% during the first quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after purchasing an additional 4,690,072 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Home Depot by 1.1% during the first quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after purchasing an additional 191,403 shares during the last quarter. Norges Bank bought a new stake in shares of Home Depot during the fourth quarter worth $2,558,090,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Home Depot by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock worth $1,876,628,000 after purchasing an additional 303,357 shares during 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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