Telsey Advisory Group Reiterates “Outperform” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “outperform” rating restated by research analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $455.00 price target on the home improvement retailer’s stock. Telsey Advisory Group’s target price points to a potential upside of 22.74% from the company’s previous close.

HD has been the topic of a number of other research reports. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. JPMorgan Chase & Co. reduced their target price on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Stock Performance

HD stock opened at $370.71 on Tuesday. The firm has a 50 day simple moving average of $359.38 and a 200 day simple moving average of $387.66. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $368.50 billion, a P/E ratio of 25.18, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MBL Wealth LLC grew its holdings in shares of Home Depot by 5.3% during the first quarter. MBL Wealth LLC now owns 5,498 shares of the home improvement retailer’s stock worth $2,015,000 after purchasing an additional 276 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Home Depot by 61.1% during the 1st quarter. Acadian Asset Management LLC now owns 187,366 shares of the home improvement retailer’s stock valued at $68,659,000 after buying an additional 71,073 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Home Depot by 14.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 25,078 shares of the home improvement retailer’s stock worth $9,191,000 after acquiring an additional 3,088 shares during the last quarter. Acorns Advisers LLC lifted its holdings in shares of Home Depot by 27.5% during the 1st quarter. Acorns Advisers LLC now owns 1,492 shares of the home improvement retailer’s stock worth $547,000 after acquiring an additional 322 shares during the last quarter. Finally, Blue Rock Wealth Management LLC grew its position in Home Depot by 35.6% in the first quarter. Blue Rock Wealth Management LLC now owns 1,090 shares of the home improvement retailer’s stock worth $399,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.