Wedbush set a $190.00 price objective on Home Depot (NYSE:HD) in a research note released on Wednesday, TipRanks reports. The firm currently has a hold rating on the home improvement retailer’s stock. Wedbush also issued estimates for Home Depot’s Q2 2020 earnings at $3.04 EPS.
Several other research firms also recently weighed in on HD. Edward Jones upgraded Home Depot from a hold rating to a buy rating in a research note on Wednesday, February 13th. DZ Bank downgraded Home Depot from a buy rating to a hold rating in a research note on Wednesday, February 27th. Zacks Investment Research downgraded Home Depot from a hold rating to a sell rating in a research note on Tuesday, May 7th. Telsey Advisory Group restated a market perform rating and issued a $192.00 price target on shares of Home Depot in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada lowered their price target on Home Depot from $223.00 to $217.00 and set a buy rating for the company in a research report on Tuesday, May 7th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $205.29.
HD stock opened at $193.59 on Wednesday. Home Depot has a 1-year low of $158.09 and a 1-year high of $215.43. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 17.68. The company has a market capitalization of $208.54 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.
Home Depot announced that its board has authorized a share repurchase program on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $1.36 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a yield of 2.81%. Home Depot’s payout ratio is 55.01%.
In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the 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 sale, the executive vice president now owns 86,813 shares in the company, valued at $15,880,702.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the sale, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,194 shares of company stock worth $7,553,141. Insiders own 0.27% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management LLC increased its stake in shares of Home Depot by 32.3% during the fourth quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock valued at $284,000 after buying an additional 404 shares during the period. RDL Financial Inc. grew its stake in Home Depot by 5.2% in the fourth quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock valued at $2,372,000 after purchasing an additional 678 shares during the last quarter. PFG Advisors purchased a new position in Home Depot in the fourth quarter valued at about $702,000. Prudential Financial Inc. grew its stake in Home Depot by 3.5% in the third quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock valued at $279,359,000 after purchasing an additional 45,754 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Home Depot in the fourth quarter valued at about $1,706,000. Institutional investors and hedge funds own 69.31% of the company’s stock.
About Home Depot
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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