Telsey Advisory Group Reiterates Market Perform Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “market perform” rating reissued by investment analysts at Telsey Advisory Group in a research note issued on Tuesday, Benzinga reports. They currently have a $360.00 target price on the home improvement retailer’s stock. Telsey Advisory Group’s target price suggests a potential upside of 6.29% from the stock’s previous close.

HD has been the subject of several other reports. Citigroup raised their price objective on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. DA Davidson reissued a “neutral” rating and set a $370.00 price target on shares of Home Depot in a report on Monday, April 1st. The Goldman Sachs Group lifted their price objective on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, TD Cowen raised their target price on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $375.19.

Home Depot Trading Down 0.6 %

NYSE HD opened at $338.70 on Tuesday. The company’s 50-day simple moving average is $360.47 and its two-hundred day simple moving average is $343.54. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a market capitalization of $335.66 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the firm earned $3.30 earnings per share. Home Depot’s revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Home Depot will post 15.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Cape Investment Advisory Inc. boosted its position in shares of Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after buying an additional 28 shares during the period. Optas LLC grew its position in Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after acquiring an additional 29 shares in the last quarter. STAR Financial Bank grew its position in Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after acquiring an additional 29 shares in the last quarter. Harvest Investment Advisors LLC lifted its position in shares of Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after purchasing an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its stake in shares of Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after purchasing an additional 30 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

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.