The Home Depot, Inc. (NYSE:HD) Receives $380.58 Average Price Target from Brokerages

Shares of The Home Depot, Inc. (NYSE:HD) have been given an average recommendation of “Moderate Buy” by the twenty-seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nineteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $381.80.

Several research analysts have commented on the stock. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $352.00 to $395.00 in a report on Wednesday, June 26th. Guggenheim restated a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. TD Cowen reduced their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. UBS Group reduced their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th.

Home Depot Price Performance

Shares of HD opened at $361.69 on Tuesday. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The stock has a market cap of $358.66 billion, a PE ratio of 24.26, a P/E/G ratio of 2.48 and a beta of 0.99. The firm has a 50-day simple moving average of $343.65 and a two-hundred day simple moving average of $353.30.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the previous year, the business posted $3.82 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Home Depot will post 15.3 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s payout ratio is currently 60.36%.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth $4,311,070,000. International Assets Investment Management LLC grew its stake in Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in Home Depot in the 1st quarter valued at about $513,016,000. Jennison Associates LLC grew its stake in Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.