Wells Fargo & Co Increases Home Depot (NYSE:HD) Price Target to $230.00

Home Depot (NYSE:HD) had its price objective boosted by Wells Fargo & Co from $215.00 to $230.00 in a report published on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Gabelli lowered shares of Home Depot from a buy rating to a hold rating in a research report on Tuesday, July 16th. They noted that the move was a valuation call. ValuEngine lowered shares of Home Depot from a buy rating to a hold rating in a research report on Thursday, August 1st. Loop Capital increased their target price on shares of Home Depot to $195.00 and gave the company a hold rating in a research report on Friday, July 19th. Royal Bank of Canada decreased their target price on shares of Home Depot from $223.00 to $217.00 and set a buy rating for the company in a research report on Tuesday, May 7th. Finally, Robert W. Baird reiterated a positive rating on shares of Home Depot in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $210.12.

Home Depot stock opened at $203.65 on Wednesday. The company has a 50-day simple moving average of $211.99 and a 200-day simple moving average of $198.76. The firm has a market capitalization of $221.81 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.87 and a beta of 1.12. Home Depot has a one year low of $158.09 and a one year high of $219.30.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the consensus estimate of $2.17 by $0.10. The business had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 earnings per share. As a group, research analysts expect that Home Depot will post 10.1 earnings per share for the current year.

In other Home Depot news, CFO Carol B. Tome sold 26,334 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $189.17, for a total value of $4,981,602.78. Following the completion of the sale, the chief financial officer now directly owns 519,253 shares of the company’s stock, valued at approximately $98,227,090.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 8,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $194.38, for a total transaction of $1,652,230.00. Following the completion of the sale, the executive vice president now directly owns 13,357 shares of the company’s stock, valued at $2,596,333.66. The disclosure for this sale can be found here. Insiders sold a total of 82,522 shares of company stock valued at $16,156,831 over the last three months. 0.27% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BKD Wealth Advisors LLC grew its holdings in shares of Home Depot by 1.0% during the fourth quarter. BKD Wealth Advisors LLC now owns 8,623 shares of the home improvement retailer’s stock valued at $1,482,000 after buying an additional 85 shares during the last quarter. Mascoma Wealth Management LLC increased its stake in shares of Home Depot by 21.6% during the fourth quarter. Mascoma Wealth Management LLC now owns 1,692 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 301 shares in the last quarter. First National Trust Co increased its stake in shares of Home Depot by 7.2% during the fourth quarter. First National Trust Co now owns 80,347 shares of the home improvement retailer’s stock worth $13,805,000 after purchasing an additional 5,392 shares in the last quarter. Huntington National Bank increased its stake in shares of Home Depot by 0.5% during the fourth quarter. Huntington National Bank now owns 354,145 shares of the home improvement retailer’s stock worth $60,849,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Greenwood Gearhart Inc. increased its stake in shares of Home Depot by 2.1% during the fourth quarter. Greenwood Gearhart Inc. now owns 36,104 shares of the home improvement retailer’s stock worth $6,203,000 after purchasing an additional 741 shares in the last quarter. 69.81% of the stock is owned by 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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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The Fly

Analyst Recommendations for Home Depot (NYSE:HD)

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