Home Depot (HD) Price Target Raised to $200.00

Home Depot (NYSE:HD) had its target price lifted by Deutsche Bank from $176.00 to $200.00 in a research report released on Thursday morning. They currently have a buy rating on the home improvement retailer’s stock.

A number of other research firms have also recently weighed in on HD. BTIG Research lifted their target price on shares of Home Depot to $215.00 and gave the company a buy rating in a research note on Thursday. Argus lifted their target price on shares of Home Depot from $180.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Home Depot from a buy rating to a hold rating in a research note on Friday, September 8th. Oppenheimer set a $178.00 target price on shares of Home Depot and gave the company a buy rating in a research note on Tuesday, November 14th. Finally, Jefferies Group restated a buy rating and set a $182.00 target price on shares of Home Depot in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot has a consensus rating of Buy and a consensus price target of $182.06.

Shares of Home Depot (NYSE:HD) traded up $1.41 during mid-day trading on Thursday, hitting $183.41. 5,064,555 shares of the stock were exchanged, compared to its average volume of 5,343,533. Home Depot has a 12-month low of $131.10 and a 12-month high of $186.31. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The company has a market cap of $214,176.86, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. sell-side analysts expect that Home Depot will post 7.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, November 29th. Home Depot’s payout ratio is currently 49.44%.

Home Depot announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in the business. Jackson Grant Investment Advisers Inc. raised its position in shares of Home Depot by 0.4% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 1,644 shares of the home improvement retailer’s stock valued at $241,000 after buying an additional 6 shares in the last quarter. Mascoma Wealth Management LLC raised its position in shares of Home Depot by 0.6% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after buying an additional 7 shares in the last quarter. Paragon Wealth Strategies LLC raised its position in shares of Home Depot by 0.4% during the 2nd quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock valued at $280,000 after buying an additional 7 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. raised its position in shares of Home Depot by 0.3% during the 1st quarter. Pineno Levin & Ford Asset Management Inc. now owns 2,725 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 9 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its position in shares of Home Depot by 0.6% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock valued at $228,000 after buying an additional 9 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

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About Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

Analyst Recommendations for Home Depot (NYSE:HD)

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