Telsey Advisory Group Reaffirms "Outperform" Rating for Home Depot (NYSE:HD)

Key Points

• Telsey Advisory Group has reaffirmed its "outperform" rating for Home Depot, setting a target price of $455.00, indicating an expected upside of 11.67% from the current stock price.
• Home Depot recently reported earnings of $3.56 per share, slightly below the consensus estimate of $3.59, but showed a 9.4% increase in quarterly revenue year-over-year.
• Currently, Home Depot has a consensus rating of "Moderate Buy" with an average target price of $427.38 based on insights from multiple investment analysts.

Home Depot (NYSE:HD - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $455.00 target price on the home improvement retailer's stock. Telsey Advisory Group's price objective indicates a potential upside of 11.67% from the stock's current price.

Other equities research analysts have also issued reports about the stock. DA Davidson decreased their price target on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reduced their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Robert W. Baird reduced their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $427.38.

Home Depot Stock Performance

Home Depot stock traded up $11.46 during midday trading on Wednesday, hitting $407.46. The company's stock had a trading volume of 5,185,784 shares, compared to its average volume of 3,514,412. Home Depot has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company has a 50-day moving average price of $368.49 and a two-hundred day moving average price of $371.95. The company has a market cap of $405.39 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.68 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Insider Transactions at Home Depot

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

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock valued at $4,747,000 after buying an additional 565 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in Home Depot by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 1,148 shares of the home improvement retailer's stock valued at $447,000 after purchasing an additional 57 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Home Depot by 12.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 3,117 shares of the home improvement retailer's stock valued at $1,212,000 after purchasing an additional 337 shares during the last quarter. Finally, Finward Bancorp purchased a new position in Home Depot in the fourth quarter valued at about $700,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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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