Home Depot (NYSE:HD) Stock Rating Reaffirmed by Loop Capital

Home Depot (NYSE:HD)‘s stock had its “positive” rating restated by investment analysts at Loop Capital in a research report issued on Wednesday, The Fly reports. They presently have a $215.00 price target on the home improvement retailer’s stock. Loop Capital’s price objective indicates a potential downside of 8.35% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on the stock. Oppenheimer increased their target price on shares of Home Depot from $215.00 to $255.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Nomura cut their target price on shares of Home Depot from $237.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Co reiterated a “buy” rating and set a $260.00 target price on shares of Home Depot in a research report on Tuesday, November 19th. Jefferies Financial Group increased their target price on shares of Home Depot from $246.00 to $268.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada cut their target price on shares of Home Depot from $246.00 to $232.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $238.65.

NYSE HD traded up $1.64 during trading hours on Wednesday, reaching $234.59. 2,160,156 shares of the company were exchanged, compared to its average volume of 3,762,908. Home Depot has a 1 year low of $174.53 and a 1 year high of $239.31. The business’s 50 day simple moving average is $220.17 and its 200-day simple moving average is $222.90. The stock has a market capitalization of $252.97 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.05 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 19th. The home improvement retailer reported $2.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.53. The business had revenue of $27.22 billion during the quarter, compared to the consensus estimate of $27.51 billion. Home Depot had a net margin of 10.01% and a negative return on equity of 721.00%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.51 earnings per share. As a group, equities analysts predict that Home Depot will post 10.08 EPS for the current year.

In other Home Depot news, CEO Craig A. Menear sold 113,468 shares of Home Depot stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $211.24, for a total transaction of $23,968,980.32. Following the transaction, the chief executive officer now directly owns 277,604 shares of the company’s stock, valued at $58,641,068.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 12,974 shares of Home Depot stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $213.70, for a total transaction of $2,772,543.80. Following the transaction, the executive vice president now directly owns 26,335 shares in the company, valued at $5,627,789.50. The disclosure for this sale can be found here. Insiders have sold 126,552 shares of company stock worth $26,765,281 over the last three months. Insiders own 0.27% of the company’s stock.

Several hedge funds have recently bought and sold shares of HD. Resource Management LLC increased its stake in shares of Home Depot by 0.3% in the fourth quarter. Resource Management LLC now owns 17,512 shares of the home improvement retailer’s stock worth $3,824,000 after buying an additional 48 shares during the period. Groesbeck Investment Management Corp NJ increased its stake in shares of Home Depot by 100.6% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 4,502 shares of the home improvement retailer’s stock worth $983,000 after buying an additional 2,258 shares during the period. Savior LLC purchased a new position in shares of Home Depot in the fourth quarter worth $158,000. R. W. Roge & Company Inc. purchased a new position in shares of Home Depot in the fourth quarter worth $419,000. Finally, Ironvine Capital Partners LLC increased its stake in shares of Home Depot by 69.0% in the fourth quarter. Ironvine Capital Partners LLC now owns 15,317 shares of the home improvement retailer’s stock worth $3,345,000 after buying an additional 6,255 shares during the period. 69.97% of the stock is currently 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Analyst Recommendations for Home Depot (NYSE:HD)

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