Home Depot (NYSE:HD) Downgraded by StockNews.com

Home Depot (NYSE:HD – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other brokerages have also recently commented on HD. Morgan Stanley lowered their price target on Home Depot from $420.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. JPMorgan Chase & Co. decreased their price objective on Home Depot from $406.00 to $365.00 in a report on Wednesday, February 23rd. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a report on Friday, February 25th. UBS Group decreased their price objective on Home Depot from $470.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. Finally, TheStreet cut Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, February 22nd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $373.27.

Shares of HD opened at $302.81 on Friday. The stock has a 50-day moving average of $303.95 and a two-hundred day moving average of $348.53. Home Depot has a one year low of $279.59 and a one year high of $420.61. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.24 and a current ratio of 1.11. The stock has a market cap of $312.91 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.73 and a beta of 0.97.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.41. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $36.78 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that Home Depot will post 16.47 EPS for the current fiscal year.

In other Home Depot news, EVP Ann Marie Campbell sold 11,293 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now directly owns 51,175 shares in the company, valued at approximately $14,739,935.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Becker Caryn Seidman purchased 1,500 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was bought at an average price of $287.73 per share, with a total value of $431,595.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $431,595. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 11,933 shares of company stock valued at $3,448,197. 0.17% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of HD. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $4,325,629,000. Renaissance Technologies LLC acquired a new position in Home Depot in the first quarter valued at approximately $563,524,000. Parnassus Investments LLC acquired a new position in Home Depot in the first quarter valued at approximately $542,084,000. Charles Schwab Investment Management Inc. lifted its holdings in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after acquiring an additional 1,361,660 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $440,559,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

Home Depot Company Profile (Get Rating)

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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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