Wedbush Boosts Home Depot (NYSE:HD) Price Target to $230.00

Home Depot (NYSE:HD) had its target price raised by Wedbush from $200.00 to $230.00 in a report released on Wednesday morning, The Fly reports. They currently have a neutral rating on the home improvement retailer’s stock. Wedbush also issued estimates for Home Depot’s Q2 2021 earnings at $3.23 EPS, Q3 2021 earnings at $2.49 EPS, FY2021 earnings at $9.86 EPS, Q1 2022 earnings at $2.25 EPS, Q2 2022 earnings at $3.32 EPS, Q3 2022 earnings at $2.67 EPS, Q4 2022 earnings at $2.28 EPS and FY2023 earnings at $10.84 EPS.

A number of other research firms have also commented on HD. Cfra upgraded shares of Home Depot from a hold rating to a strong-buy rating and set a $255.00 price target for the company in a report on Wednesday, March 11th. Wells Fargo & Co upped their price target on shares of Home Depot from $260.00 to $270.00 and gave the company an overweight rating in a report on Tuesday. Barclays reissued a buy rating and set a $260.00 price objective (up from $235.00) on shares of Home Depot in a research report on Wednesday. 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 research report on Wednesday, May 13th. Finally, Loop Capital raised shares of Home Depot from a hold rating to a buy rating and set a $235.00 price objective on the stock in a research report on Friday, March 27th. One 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 stock. The stock has a consensus rating of Buy and a consensus price target of $251.03.

Shares of HD traded up $1.00 during mid-day trading on Wednesday, reaching $241.88. The company’s stock had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. The company’s fifty day moving average price is $213.77 and its two-hundred day moving average price is $219.47. Home Depot has a 52 week low of $140.63 and a 52 week high of $248.32. The stock has a market cap 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 (NYSE:HD) last posted 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 firm had revenue of $28.26 billion for the quarter, compared to the consensus estimate of $27.59 billion. During the same quarter in the prior year, the company earned $2.27 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Home Depot will post 9.79 EPS for the current fiscal year.

The company also recently declared 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 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend 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 company’s stock in a transaction dated 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 transaction, the executive vice president now owns 54,405 shares in the company, valued at approximately $12,840,668.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was 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 owns 37,995 shares in the company, valued at approximately $8,903,748.30. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Your Advocates Ltd. LLP bought a new position in Home Depot in the 1st quarter worth about $27,000. Lion Street Advisors LLC bought a new position in Home Depot during the 1st quarter valued at about $28,000. Litman Gregory Asset Management LLC lifted its stake 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 acquiring an additional 143 shares during the period. Evolution Wealth Advisors LLC lifted its stake 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 acquiring an additional 73 shares during the period. Finally, John W. Brooker & Co. CPAs bought a new position in Home Depot during the 4th quarter valued at about $37,000. Institutional investors own 69.75% of the company’s stock.

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.

Read More: What is Depreciation?

The Fly

Analyst Recommendations for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.