Goldman Sachs Group Initiates Coverage on Home Depot (NYSE:HD)

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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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Analyst Recommendations for Home Depot (NYSE:HD)

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