Oppenheimer Reaffirms “Buy” Rating for Home Depot (HD)

Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer in a research note issued on Thursday.

Other equities research analysts have also recently issued reports about the company. Barclays set a $165.00 target price on Home Depot and gave the company a “buy” rating in a research report on Wednesday, August 16th. BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Home Depot in a research report on Tuesday, August 15th. Credit Suisse Group set a $171.00 target price on Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Robert W. Baird set a $175.00 price target on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, Longbow Research reaffirmed a “buy” rating and issued a $175.00 price target on shares of Home Depot in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $180.86.

Home Depot (HD) traded down $2.05 during trading hours on Thursday, hitting $180.80. The stock had a trading volume of 6,892,400 shares, compared to its average volume of 4,459,042. Home Depot has a 52-week low of $128.75 and a 52-week high of $186.31. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. The firm has a market cap of $213,522.92, a PE ratio of 25.40, a PEG ratio of 1.85 and a beta of 1.11.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. During the same period last year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. equities research analysts expect that Home Depot will post 7.38 earnings per share for the current year.

Home Depot declared that its board has authorized a share buyback program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Home Depot by 0.4% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 1,644 shares of the home improvement retailer’s stock worth $241,000 after buying an additional 6 shares during the last quarter. Mascoma Wealth Management LLC increased its holdings in Home Depot by 0.6% in the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after purchasing an additional 7 shares during the last quarter. Paragon Wealth Strategies LLC increased its holdings in Home Depot by 0.4% in the 2nd quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock valued at $280,000 after purchasing an additional 7 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. increased its holdings in Home Depot by 0.3% in the 1st quarter. Pineno Levin & Ford Asset Management Inc. now owns 2,725 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 9 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its holdings in Home Depot by 0.6% in the 2nd quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 9 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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About Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

Analyst Recommendations for Home Depot (NYSE:HD)

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