Home Depot (NYSE:HD) Upgraded to “Buy” by StockNews.com

Home Depot (NYSE:HDGet Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

HD has been the topic of several other research reports. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Citigroup increased their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus lifted their target price on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Telsey Advisory Group increased their price target on Home Depot from $325.00 to $335.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price target on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $366.76.

View Our Latest Report on HD

Home Depot Price Performance

HD stock traded up $4.94 during trading on Wednesday, reaching $384.35. The company’s stock had a trading volume of 2,748,325 shares, compared to its average volume of 3,173,145. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The company’s fifty day moving average is $364.86 and its 200-day moving average is $332.14. The company has a market capitalization of $380.90 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. Home Depot has a 1 year low of $274.26 and a 1 year high of $385.10.

Home Depot (NYSE:HDGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.30 earnings per share. On average, research analysts expect that Home Depot will post 15.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently bought and sold shares of HD. VisionPoint Advisory Group LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth $26,000. Bare Financial Services Inc bought a new position in Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new position in Home Depot in the fourth quarter worth about $27,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the first quarter valued at about $27,000. Finally, KB Financial Partners LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Home Depot

(Get Free Report)

The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

See Also

Analyst Recommendations for Home Depot (NYSE:HD)

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