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.
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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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