TD Securities Reiterates Buy Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by TD Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $470.00 target price on the home improvement retailer’s stock. TD Securities’ price objective would indicate a potential upside of 28.43% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company decreased 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. Guggenheim reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Morgan Stanley boosted their price target on Home Depot from $410.00 to $415.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Trading Down 1.3%

Home Depot stock opened at $365.95 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $363.77 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock has a 50-day moving average price of $359.62 and a 200 day moving average price of $387.46.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company 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 firm posted $3.63 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Wealth Group Ltd. lifted its holdings in Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Home Depot in the 4th quarter worth $281,000. Capital & Planning LLC increased its stake in shares of Home Depot by 110.2% in the 4th quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 563 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Home Depot in the 4th quarter worth $634,000. Finally, Ironwood Wealth Management LLC. increased its stake in shares of Home Depot by 0.7% in the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other 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.