Home Depot's (HD) "Outperform" Rating Reaffirmed at Telsey Advisory Group

Key Points

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Home Depot (NYSE:HD - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They presently have a $455.00 target price on the home improvement retailer's stock. Telsey Advisory Group's target price would indicate a potential upside of 15.28% from the company's previous close.

Other research analysts also recently issued research reports about the stock. TD Securities downgraded shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the stock an "overweight" rating in a research report on Monday, June 30th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Robert W. Baird cut their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average price target of $427.76.

Home Depot Stock Down 1.2%

Shares of Home Depot stock opened at $394.68 on Tuesday. The firm's 50 day moving average price is $371.05 and its 200-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 52-week low of $326.31 and a 52-week high of $439.37. The company has a market cap of $392.68 billion, a P/E ratio of 26.78, a PEG ratio of 3.80 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.71 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. During the same quarter in the previous year, the company posted $4.60 earnings per share. On average, sell-side analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The shares were 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 of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares in the company, valued at $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. Corporate insiders own 0.10% of the company's stock.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC increased its holdings in Home Depot by 414.5% in the 2nd quarter. Hohimer Wealth Management LLC now owns 11,288 shares of the home improvement retailer's stock worth $4,139,000 after acquiring an additional 9,094 shares in the last quarter. Finward Bancorp grew its holdings in shares of Home Depot by 5.1% during the second quarter. Finward Bancorp now owns 1,949 shares of the home improvement retailer's stock worth $715,000 after buying an additional 95 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in shares of Home Depot by 2.4% during the second quarter. Tyler Stone Wealth Management now owns 2,875 shares of the home improvement retailer's stock worth $1,054,000 after buying an additional 68 shares in the last quarter. Tactive Advisors LLC purchased a new stake in shares of Home Depot during the second quarter worth $685,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Home Depot by 70.3% during the second quarter. Geneos Wealth Management Inc. now owns 42,702 shares of the home improvement retailer's stock worth $15,656,000 after buying an additional 17,624 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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.

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