The Home Depot (NYSE:HD) Raised to “Buy” at Gordon Haskett

Gordon Haskett upgraded shares of The Home Depot (NYSE:HD) from an accumulate rating to a buy rating in a research report sent to investors on Thursday morning, AnalystRatings.net reports. Gordon Haskett currently has $315.00 target price on the home improvement retailer’s stock.

Several other research analysts also recently issued reports on the stock. Wedbush downgraded shares of The Home Depot from an outperform rating to a neutral rating in a report on Wednesday, November 11th. The Goldman Sachs Group boosted their price objective on shares of The Home Depot from $265.00 to $301.00 and gave the stock a buy rating in a report on Tuesday, August 18th. Robert W. Baird boosted their price objective on shares of The Home Depot from $275.00 to $300.00 and gave the stock an outperform rating in a report on Thursday, August 13th. Oppenheimer lowered shares of The Home Depot from an outperform rating to a market perform rating and decreased their target price for the company from $320.00 to $305.00 in a research report on Friday, September 18th. Finally, Wells Fargo & Company lifted their target price on shares of The Home Depot from $295.00 to $300.00 and gave the company an overweight rating in a research report on Tuesday, August 11th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The Home Depot presently has a consensus rating of Buy and an average price target of $288.41.

Shares of HD opened at $277.17 on Thursday. The company has a market capitalization of $298.36 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. The Home Depot has a one year low of $140.63 and a one year high of $292.95. The company’s fifty day moving average price is $279.07 and its 200 day moving average price is $262.69.

The Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.82. The Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same quarter in the previous year, the firm posted $3.17 EPS. The business’s revenue was up 23.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Home Depot will post 11.43 EPS for the current year.

In related news, EVP William G. Lennie sold 13,199 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $283.22, for a total transaction of $3,738,220.78. Following the completion of the sale, the executive vice president now directly owns 49,736 shares of the company’s stock, valued at $14,086,229.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the sale, the executive vice president now directly owns 62,735 shares of the company’s stock, valued at $17,341,836.05. The disclosure for this sale can be found here. Insiders have sold 105,624 shares of company stock worth $29,429,883 over the last quarter. 0.26% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price Wealth LLC raised its holdings in The Home Depot by 138.5% in the second quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 72 shares during the period. Selective Wealth Management Inc. raised its holdings in The Home Depot by 243.9% in the second quarter. Selective Wealth Management Inc. now owns 141 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 100 shares during the period. Planned Solutions Inc. acquired a new stake in The Home Depot in the third quarter worth $45,000. JJJ Advisors Inc. raised its holdings in The Home Depot by 201.6% in the third quarter. JJJ Advisors Inc. now owns 184 shares of the home improvement retailer’s stock worth $51,000 after purchasing an additional 123 shares during the period. Finally, Evolution Wealth Advisors LLC raised its holdings in The Home Depot by 138.8% in the second quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 111 shares during the period. 69.00% of the stock is owned by institutional investors and hedge funds.

The 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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Analyst Recommendations for The Home Depot (NYSE:HD)




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