Home Depot (NYSE:HD) Raised to “Buy” at ValuEngine

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ValuEngine upgraded shares of Home Depot (NYSE:HD) from a hold rating to a buy rating in a report released on Friday morning, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Co restated a hold rating and issued a $70.00 price objective on shares of Church & Dwight in a research report on Thursday, May 2nd. Morgan Stanley decreased their price objective on shares of Wells Fargo & Co from $55.00 to $51.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Royal Bank of Canada set a €86.00 ($100.00) price objective on shares of Henkel AG & Co KGaA and gave the stock a neutral rating in a research report on Tuesday, May 7th. Goldman Sachs Group upgraded shares of Altria Group from a neutral rating to a buy rating and set a $59.00 price objective on the stock in a research report on Thursday. Finally, Evercore ISI started coverage on shares of Polarityte in a research report on Wednesday, March 20th. They issued an outperform rating and a $26.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Home Depot currently has a consensus rating of Buy and a consensus target price of $206.94.

NYSE HD opened at $218.23 on Friday. The stock has a market capitalization of $240.12 billion, a P/E ratio of 22.07, a PEG ratio of 2.02 and a beta of 1.12. Home Depot has a 52 week low of $158.09 and a 52 week high of $218.25. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.26 and a current ratio of 1.04. The firm’s 50-day simple moving average is $203.01.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, June 5th. Home Depot’s payout ratio is currently 55.01%.

In other news, EVP Matt Carey sold 34,688 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 81,982 shares of the company’s stock, valued at $16,567,742.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 13,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 64,575 shares of the company’s stock, valued at approximately $12,482,347.50. The disclosure for this sale can be found here. Insiders have sold 82,522 shares of company stock worth $16,156,831 over the last quarter. Company insiders own 0.27% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC bought a new position in Home Depot in the second quarter worth $31,000. Virtus ETF Advisers LLC bought a new position in Home Depot in the fourth quarter worth $32,000. Thor Advisors LLC bought a new position in Home Depot in the first quarter worth $32,000. Enlightenment Research LLC bought a new position in Home Depot in the fourth quarter worth $34,000. Finally, Private Ocean LLC raised its holdings in Home Depot by 53.3% in the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 72 shares in the last quarter. 69.34% of the stock is owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Home Depot (NYSE:HD)

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