Goldman Sachs Group started coverage on shares of Home Depot (NYSE:HD) in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $235.00 price target on the home improvement retailer’s stock.
Several other brokerages have also recently commented on HD. Telsey Advisory Group reaffirmed a market perform rating and set a $5.00 price objective (down previously from $7.50) on shares of Tile Shop in a research note on Wednesday, May 1st. Wells Fargo & Co reaffirmed a hold rating and set a $70.00 price objective on shares of Church & Dwight in a research note on Thursday, May 2nd. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the company a sell rating in a research note on Thursday, April 11th. Stifel Nicolaus set a $154.00 price objective on shares of argenx and gave the company a buy rating in a research note on Wednesday, May 22nd. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Co from $55.00 to $51.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $206.94.
NYSE HD opened at $218.23 on Thursday. The company has a 50 day simple moving average of $203.01. Home Depot has a 12-month low of $158.09 and a 12-month high of $218.25. The company has a current ratio of 1.04, a quick ratio of 0.26 and a debt-to-equity ratio of 17.68. The company has a market capitalization of $240.12 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.02 and a beta of 1.12.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.10. Home Depot had a net margin of 10.24% and a return on equity of 1,441.05%. The company had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Home Depot will post 10.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a yield of 2.49%. Home Depot’s dividend payout ratio is currently 55.01%.
In other Home Depot news, EVP Timothy A. Hourigan sold 13,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $193.30, for a total value of $2,512,900.00. Following the completion of the transaction, the executive vice president now directly owns 64,575 shares in the company, valued at approximately $12,482,347.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Carey sold 34,688 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the completion of the transaction, the executive vice president now owns 81,982 shares of the company’s stock, valued at $16,567,742.38. The disclosure for this sale can be found here. Insiders have sold a total of 82,522 shares of company stock valued at $16,156,831 over the last quarter. 0.27% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HD. Country Club Trust Company n.a. grew its position in shares of Home Depot by 11.6% in the 2nd quarter. Country Club Trust Company n.a. now owns 8,708 shares of the home improvement retailer’s stock worth $1,811,000 after buying an additional 905 shares during the period. Clark Capital Management Group Inc. grew its position in Home Depot by 2.9% during the 2nd quarter. Clark Capital Management Group Inc. now owns 207,869 shares of the home improvement retailer’s stock valued at $43,230,000 after purchasing an additional 5,874 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Home Depot by 7.0% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,461 shares of the home improvement retailer’s stock valued at $4,255,000 after purchasing an additional 1,340 shares during the last quarter. Community Bank & Trust Waco Texas grew its position in Home Depot by 1.1% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 17,021 shares of the home improvement retailer’s stock valued at $3,540,000 after purchasing an additional 179 shares during the last quarter. Finally, Smith Salley & Associates grew its position in Home Depot by 13.6% during the 2nd quarter. Smith Salley & Associates now owns 1,670 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.
About Home Depot
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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