Home Depot's (HD) Buy Rating Reiterated at DA Davidson

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Home Depot (NYSE:HD - Get Free Report)'s stock had its "buy" rating reiterated by DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $450.00 price objective on the home improvement retailer's stock. DA Davidson's price objective would suggest a potential upside of 9.16% from the company's previous close.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus set a $432.00 price target on shares of Home Depot and gave the company a "buy" rating in a research report on Monday. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Wells Fargo & Company set a $420.00 price target on Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $427.76.

Home Depot Stock Performance

NYSE:HD opened at $412.25 on Tuesday. The stock has a market cap of $410.15 billion, a P/E ratio of 27.92, a PEG ratio of 3.80 and a beta of 1.00. The business's 50-day moving average price is $371.05 and its two-hundred day moving average price is $371.19. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. Home Depot has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. During the same period in the prior year, the firm earned $4.60 earnings per share. The business's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HD. Asset Planning Services Inc. LA ADV lifted its stake in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new position in Home Depot during the 2nd quarter valued at about $4,885,603,000. GAMMA Investing LLC grew its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. Laurel Wealth Advisors LLC lifted its position in Home Depot by 36,207.5% during the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer's stock valued at $3,694,552,000 after buying an additional 10,049,029 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Home Depot in the first quarter valued at about $2,076,592,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.