Home Depot’s (HD) Neutral Rating Reiterated at Bank of America

Home Depot (NYSE:HD)‘s stock had its “neutral” rating reissued by equities research analysts at Bank of America in a research note issued on Thursday, April 11th, Briefing.com Automated Import reports. They presently have a $202.00 target price on the home improvement retailer’s stock. Bank of America‘s price target suggests a potential upside of 0.72% from the company’s current price.

A number of other analysts also recently commented on the company. Citigroup lowered their target price on Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Telsey Advisory Group downgraded Home Depot from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $205.00 to $192.00 in a research note on Wednesday, February 27th. Credit Suisse Group set a $194.00 price target on Home Depot and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Finally, Deutsche Bank increased their price target on Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Home Depot currently has a consensus rating of “Buy” and a consensus price target of $204.18.

Shares of HD traded down $0.45 during trading hours on Thursday, hitting $200.56. The company had a trading volume of 3,583,425 shares, compared to its average volume of 4,312,950. The firm has a market cap of $221.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.77 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. Home Depot has a one year low of $158.09 and a one year high of $215.43.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The company had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 EPS. On average, equities research analysts forecast that Home Depot will post 10.09 EPS for the current year.

Home Depot announced that its board has initiated a stock repurchase program on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the completion of the transaction, the executive vice president now directly owns 86,813 shares in the company, valued at $15,880,702.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the transaction, the executive vice president now owns 39,794 shares of the company’s stock, valued at $7,306,178.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,194 shares of company stock valued at $7,553,141. 0.27% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Bartlett & Co. LLC increased its position in Home Depot by 2.0% in the 3rd quarter. Bartlett & Co. LLC now owns 22,768 shares of the home improvement retailer’s stock valued at $4,716,000 after acquiring an additional 436 shares during the period. Somerville Kurt F boosted its stake in shares of Home Depot by 1.2% during the 3rd quarter. Somerville Kurt F now owns 61,188 shares of the home improvement retailer’s stock worth $12,675,000 after acquiring an additional 743 shares in the last quarter. Gardiner Nancy B boosted its stake in shares of Home Depot by 141.1% during the 3rd quarter. Gardiner Nancy B now owns 6,835 shares of the home improvement retailer’s stock worth $1,416,000 after acquiring an additional 4,000 shares in the last quarter. Notis McConarty Edward boosted its stake in shares of Home Depot by 6.7% during the 3rd quarter. Notis McConarty Edward now owns 13,370 shares of the home improvement retailer’s stock worth $2,769,000 after acquiring an additional 835 shares in the last quarter. Finally, Patriot Wealth Management Inc. boosted its stake in shares of Home Depot by 2.2% during the 3rd quarter. Patriot Wealth Management Inc. now owns 65,076 shares of the home improvement retailer’s stock worth $13,481,000 after acquiring an additional 1,385 shares in the last quarter. Institutional investors own 70.96% of the company’s stock.

Home Depot Company Profile

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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Analyst Recommendations for Home Depot (NYSE:HD)

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