Home Depot (NYSE:HD) Trading Up 1.3% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) traded up 1.3% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $440.00 to $450.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as high as $411.51 and last traded at $412.36. 572,308 shares changed hands during trading, a decline of 80% from the average session volume of 2,870,591 shares. The stock had previously closed at $407.14.

Several other research analysts have also commented on HD. DA Davidson raised their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Bank of America upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI boosted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.59.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AMF Tjanstepension AB boosted its stake in Home Depot by 10.8% during the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after purchasing an additional 16,650 shares during the period. SYM FINANCIAL Corp lifted its stake in shares of Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the period. Wealth Group Ltd. bought a new stake in shares of Home Depot in the third quarter valued at about $217,000. Creative Planning grew its position in Home Depot by 7.0% during the third quarter. Creative Planning now owns 513,327 shares of the home improvement retailer’s stock worth $199,295,000 after buying an additional 33,703 shares in the last quarter. Finally, Swedbank AB increased its stake in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

The firm has a fifty day simple moving average of $405.21 and a 200 day simple moving average of $395.46. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $408.01 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.81 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

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.