Investors Buy Shares of Home Depot (HD) on Weakness

Investors purchased shares of Home Depot Inc (NYSE:HD) on weakness during trading on Tuesday. $242.73 million flowed into the stock on the tick-up and $173.37 million flowed out of the stock on the tick-down, for a money net flow of $69.36 million into the stock. Of all companies tracked, Home Depot had the 4th highest net in-flow for the day. Home Depot traded down ($0.34) for the day and closed at $183.72

A number of brokerages recently issued reports on HD. Jefferies Group restated a “buy” rating and issued a $223.00 price target on shares of Home Depot in a research note on Monday, February 5th. Robert W. Baird restated an “outperform” rating and issued a $195.00 price target on shares of Home Depot in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, February 6th. SunTrust Banks lifted their price target on shares of Home Depot to $167.00 and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Finally, Telsey Advisory Group lifted their price target on shares of Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Home Depot has a consensus rating of “Buy” and a consensus target price of $190.32.

The stock has a market cap of $215,670.00, a price-to-earnings ratio of 25.62, a PEG ratio of 1.34 and a beta of 1.08. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company 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 company posted $1.60 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities research analysts anticipate that Home Depot Inc will post 7.38 EPS for the current year.

Home Depot declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Wela Strategies Inc. acquired a new stake in Home Depot in the second quarter worth about $217,000. Busey Trust CO lifted its holdings in Home Depot by 0.4% in the second quarter. Busey Trust CO now owns 9,911 shares of the home improvement retailer’s stock worth $1,520,000 after purchasing an additional 37 shares during the period. Ingalls & Snyder LLC lifted its holdings in Home Depot by 1.1% in the second quarter. Ingalls & Snyder LLC now owns 112,671 shares of the home improvement retailer’s stock worth $17,284,000 after purchasing an additional 1,204 shares during the period. Benedict Financial Advisors Inc. lifted its holdings in Home Depot by 2.3% in the second quarter. Benedict Financial Advisors Inc. now owns 6,484 shares of the home improvement retailer’s stock worth $951,000 after purchasing an additional 143 shares during the period. Finally, Cantor Fitzgerald Investment Adviser L.P. acquired a new stake in Home Depot in the second quarter worth about $227,000. 70.34% of the stock is owned by institutional investors.

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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.

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