Home Depot (NYSE:HD)‘s stock had its “buy” rating reissued by equities researchers at Bank of America in a research report issued on Tuesday. They presently have a $190.60 price objective on the home improvement retailer’s stock, down from their prior price objective of $219.00. Bank of America’s target price would indicate a potential upside of 1.94% from the stock’s previous close.
HD has been the subject of a number of other reports. Credit Suisse Group lifted their price objective on Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on Home Depot from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $220.00 price objective (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Jefferies Group reaffirmed a “buy” rating and set a $223.00 price objective on shares of Home Depot in a research note on Monday, February 5th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Home Depot in a research note on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Home Depot presently has an average rating of “Buy” and an average target price of $190.34.
Shares of Home Depot (HD) opened at $186.97 on Tuesday. The firm has a market capitalization of $218,330.00, a price-to-earnings ratio of 25.93, a PEG ratio of 1.36 and a beta of 1.08. Home Depot has a 52-week low of $141.00 and a 52-week high of $207.60. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23.
Home Depot declared that its board has authorized a stock repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Home Depot by 0.9% in the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after buying an additional 703,292 shares during the period. Capital Research Global Investors raised its stake in Home Depot by 0.9% in the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after buying an additional 170,139 shares during the period. Northern Trust Corp raised its stake in Home Depot by 1.3% in the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after buying an additional 222,958 shares during the period. Geode Capital Management LLC raised its stake in Home Depot by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock valued at $2,207,871,000 after buying an additional 259,863 shares during the period. Finally, Jennison Associates LLC raised its stake in Home Depot by 65.4% in the fourth quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock valued at $1,559,421,000 after buying an additional 3,254,382 shares during the period. Institutional investors and hedge funds own 70.36% of the company’s stock.
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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.
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