Summit Asset Management LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Summit Asset Management LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 16.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,771 shares of the home improvement retailer’s stock after buying an additional 830 shares during the period. Summit Asset Management LLC’s holdings in Home Depot were worth $2,338,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Abacus Wealth Partners LLC grew its position in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. increased its stake in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC raised its position in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp lifted its stake in shares of Home Depot by 1.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $410.39 on Thursday. The Home Depot, Inc. has a 52 week low of $300.14 and a 52 week high of $421.56. The company has a market capitalization of $407.64 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.79 and a beta of 1.01. The company has a 50-day moving average of $396.76 and a 200-day moving average of $365.25. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the company posted $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on HD. Morgan Stanley boosted their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho lifted their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, DA Davidson boosted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Profile

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.