Home Depot (NYSE:HD) Lifted to “Buy” at StockNews.com

Home Depot (NYSE:HD) 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 subject of several other research reports. The Goldman Sachs Group upped their price objective on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a report on Wednesday, April 17th. Royal Bank of Canada upped their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Mizuho started coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. Finally, TD Cowen boosted their price target on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Stock Up 0.9 %

Shares of NYSE:HD opened at $339.00 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a fifty day simple moving average of $366.40 and a 200 day simple moving average of $340.51. The firm has a market cap of $335.96 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Home Depot will post 15.37 EPS for the current fiscal year.

Insider Activity at Home Depot

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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the business’s 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 transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently modified their holdings of HD. Bare Financial Services Inc bought a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $27,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its stake in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $35,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.