Home Depot (NYSE:HD)‘s stock had its “buy” rating reissued by equities research analysts at Morgan Stanley in a research report issued on Wednesday, AnalystRatings.com reports. They presently have a $305.00 price target on the home improvement retailer’s stock. Morgan Stanley’s price objective indicates a potential upside of 11.59% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. DA Davidson initiated coverage on Home Depot in a report on Friday, August 14th. They set a “neutral” rating and a $290.00 price target for the company. They noted that the move was a valuation call. Nomura lifted their target price on Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. UBS Group lifted their target price on Home Depot from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Bank of America upgraded Home Depot from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $290.00 to $330.00 in a report on Wednesday, August 19th. Finally, Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $261.00 target price for the company in a report on Monday, June 1st. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $286.72.
NYSE HD traded up $0.02 during trading on Wednesday, hitting $273.33. 28,207 shares of the stock traded hands, compared to its average volume of 5,168,262. The company has a market capitalization of $294.21 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.09. The firm has a 50-day simple moving average of $278.39 and a 200-day simple moving average of $241.07. Home Depot has a 12-month low of $140.63 and a 12-month high of $292.95.
In other news, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $276.43, for a total value of $13,953,633.54. Following the completion of the transaction, the executive vice president now directly owns 62,735 shares of the company’s stock, valued at approximately $17,341,836.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William G. Lennie sold 13,199 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $283.22, for a total value of $3,738,220.78. Following the completion of the transaction, the executive vice president now directly owns 49,736 shares of the company’s stock, valued at $14,086,229.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,304 shares of company stock valued at $32,088,591. Corporate insiders own 0.26% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Home Depot by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after buying an additional 5,714,595 shares in the last quarter. Capital Research Global Investors grew its stake in Home Depot by 28.6% during 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 purchasing an additional 4,690,072 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in Home Depot during the 1st quarter valued at about $77,291,000. Wellington Management Group LLP grew its stake in Home Depot by 18.8% during 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 purchasing an additional 3,515,402 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Home Depot by 99.8% during the 2nd quarter. Nordea Investment Management AB now owns 3,158,138 shares of the home improvement retailer’s stock valued at $780,250,000 after purchasing an additional 1,577,704 shares during the last quarter. 69.00% of the stock is owned by hedge funds and other 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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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