Wells Fargo & Co Reaffirms Outperform Rating for Home Depot (NYSE:HD)

Wells Fargo & Co reaffirmed their outperform rating on shares of Home Depot (NYSE:HD) in a report published on Wednesday morning, The Fly reports. The brokerage currently has a $235.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $230.00.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Home Depot to $230.00 and gave the stock a buy rating in a research note on Monday, August 12th. Credit Suisse Group set a $213.00 price objective on shares of Home Depot and gave the company a neutral rating in a research note on Tuesday, August 20th. ValuEngine cut shares of Home Depot from a buy rating to a hold rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Home Depot from $229.00 to $233.00 and gave the company an outperform rating in a research note on Tuesday, August 20th. Finally, Telsey Advisory Group reissued a market perform rating and issued a $192.00 price objective on shares of Home Depot in a research note on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $220.11.

NYSE:HD opened at $217.47 on Wednesday. Home Depot has a fifty-two week low of $158.09 and a fifty-two week high of $222.65. The stock has a market cap of $242.50 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The firm’s fifty day simple moving average is $212.53 and its 200-day simple moving average is $199.56.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The business had revenue of $30.84 billion for the quarter, compared to analysts’ expectations of $30.98 billion. During the same period in the prior year, the company posted $3.05 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Home Depot will post 10.11 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is 55.01%.

In other Home Depot news, CFO Carol B. Tome sold 145,400 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the transaction, the chief financial officer now directly owns 496,374 shares in the company, valued at approximately $108,725,760.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William G. Lennie sold 9,200 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the completion of the transaction, the executive vice president now owns 84,123 shares in the company, valued at $18,511,266.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,122 shares of company stock worth $47,516,807. 0.27% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new position in shares of Home Depot during the 2nd quarter worth about $25,000. Evolution Wealth Advisors LLC purchased a new position in shares of Home Depot during the 2nd quarter worth about $31,000. Virtus ETF Advisers LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $32,000. Thor Advisors LLC purchased a new position in shares of Home Depot during the 1st quarter worth about $32,000. Finally, Enlightenment Research LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $34,000. Institutional investors own 69.35% 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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The Fly

Analyst Recommendations for Home Depot (NYSE:HD)

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