Shares of Home Depot Inc (NYSE:HD) have earned an average recommendation of “Buy” from the thirty-two analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $193.27.
Several equities research analysts have issued reports on the stock. Loop Capital assumed coverage on shares of Home Depot in a research report on Thursday, March 1st. They set a “hold” rating and a $187.00 price objective for the company. SunTrust Banks raised their price objective on shares of Home Depot to $187.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Credit Suisse Group set a $222.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a research report on Wednesday, February 21st. BMO Capital Markets raised their price objective on shares of Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.
Shares of Home Depot (HD) traded down $1.81 during mid-day trading on Friday, reaching $176.60. 1,170,000 shares of the company’s stock traded hands, compared to its average volume of 6,180,000. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.38. The firm has a market capitalization of $206,220.00, a P/E ratio of 23.86, a PEG ratio of 1.38 and a beta of 1.14. Home Depot has a 1 year low of $144.25 and a 1 year high of $207.60.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.33%. This is a boost from Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date is Wednesday, March 7th. Home Depot’s dividend payout ratio (DPR) is 55.68%.
Home Depot declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Craig A. Menear sold 113,687 shares of Home Depot stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the transaction, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at $43,734,117.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Armando M. Codina acquired 6,650 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average cost of $178.66 per share, for a total transaction of $1,188,089.00. Following the completion of the purchase, the director now directly owns 42,300 shares of the company’s stock, valued at $7,557,318. The disclosure for this purchase can be found here. Insiders sold 169,027 shares of company stock worth $31,220,882 over the last three months. 0.26% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Garde Capital Inc. lifted its holdings in Home Depot by 23.1% in the fourth quarter. Garde Capital Inc. now owns 1,866 shares of the home improvement retailer’s stock valued at $354,000 after buying an additional 350 shares during the period. Chemical Bank lifted its holdings in Home Depot by 4.9% in the fourth quarter. Chemical Bank now owns 33,120 shares of the home improvement retailer’s stock valued at $6,277,000 after buying an additional 1,537 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Home Depot by 15.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 143,311 shares of the home improvement retailer’s stock valued at $27,162,000 after buying an additional 18,968 shares during the period. Certified Advisory Corp acquired a new position in Home Depot in the fourth quarter valued at $747,000. Finally, Ackerman Capital Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at $233,000. 70.63% of the stock is currently owned by institutional investors and hedge funds.
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Home Depot Company Profile
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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