Home Depot (NYSE:HD) Price Target Raised to $246.00

Home Depot (NYSE:HD) had its price objective lifted by equities research analysts at Goldman Sachs Group to $246.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Goldman Sachs Group’s target price indicates a potential upside of 8.92% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also commented on HD. Loop Capital increased their price objective on Home Depot to $200.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Edward Jones lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Credit Suisse Group increased their price objective on Home Depot from $213.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Co reaffirmed a “buy” rating and set a $260.00 price objective on shares of Home Depot in a research note on Tuesday. Finally, ValuEngine lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average price target of $234.00.

Home Depot stock traded down $12.99 during trading hours on Tuesday, hitting $225.86. The stock had a trading volume of 13,256,958 shares, compared to its average volume of 2,516,741. The stock has a market capitalization of $259.87 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.36 and a beta of 1.04. Home Depot has a 1-year low of $158.09 and a 1-year high of $239.31. The stock’s fifty day moving average is $233.67 and its two-hundred day moving average is $216.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 19th. The home improvement retailer reported $2.53 EPS for the quarter, meeting analysts’ consensus estimates of $2.53. The business had revenue of $27.22 billion for the quarter, compared to analyst estimates of $27.51 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 earnings per share. On average, research analysts expect that Home Depot will post 10.12 EPS for the current fiscal year.

In other Home Depot news, EVP William G. Lennie sold 9,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the completion of the sale, the executive vice president now owns 84,123 shares in the company, valued at approximately $18,511,266.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Carol B. Tome sold 145,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the sale, the chief financial officer now owns 496,374 shares of the company’s stock, valued at approximately $108,725,760.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,508 shares of company stock worth $39,076,428. Company insiders own 0.27% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of HD. Nuveen Asset Management LLC raised its holdings in Home Depot by 3,457.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock valued at $2,005,132,000 after acquiring an additional 9,370,409 shares in the last quarter. Morgan Stanley grew its position in shares of Home Depot by 0.5% during the second quarter. Morgan Stanley now owns 8,327,709 shares of the home improvement retailer’s stock worth $1,731,916,000 after buying an additional 44,258 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,156,949 shares of the home improvement retailer’s stock worth $1,488,431,000 after buying an additional 25,410 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Home Depot by 26.4% during the third quarter. Fisher Asset Management LLC now owns 6,135,124 shares of the home improvement retailer’s stock worth $1,423,472,000 after buying an additional 1,280,467 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Home Depot by 8.7% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 5,952,239 shares of the home improvement retailer’s stock worth $1,632,392,000 after buying an additional 478,602 shares in the last quarter. Institutional investors own 70.11% of the company’s stock.

About Home Depot

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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