Home Depot (HD) Price Target Raised to $175.00 at Morgan Stanley

Home Depot (NYSE:HD) had its target price boosted by Morgan Stanley from $185.00 to $175.00 in a research report report published on Thursday morning. They currently have an overweight rating on the home improvement retailer’s stock.

Other research analysts also recently issued research reports about the stock. Wedbush restated a market perform rating on shares of Home Depot in a report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Home Depot from a buy rating to a hold rating in a report on Wednesday, August 16th. Oppenheimer set a $178.00 target price on shares of Home Depot and gave the company a buy rating in a research note on Tuesday, August 15th. Deutsche Bank upped their target price on shares of Home Depot from $176.00 to $200.00 and gave the company a buy rating in a research note on Thursday. Finally, BidaskClub raised shares of Home Depot from a sell rating to a hold rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $182.06.

Home Depot (NYSE:HD) traded down $1.42 during trading hours on Thursday, hitting $181.99. 1,910,362 shares of the stock traded hands, compared to its average volume of 4,466,046. Home Depot has a one year low of $131.10 and a one year high of $186.31. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The company has a market cap of $214,176.86, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. research analysts forecast that Home Depot will post 7.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.96%. Home Depot’s dividend payout ratio is 49.44%.

Home Depot announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Home Depot by 0.9% in the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after purchasing an additional 703,292 shares in the last quarter. State Street Corp grew its position in Home Depot by 0.7% in the first quarter. State Street Corp now owns 55,747,883 shares of the home improvement retailer’s stock valued at $8,185,463,000 after purchasing an additional 396,271 shares in the last quarter. Capital Research Global Investors grew its position in Home Depot by 0.9% in the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after purchasing an additional 170,139 shares in the last quarter. Northern Trust Corp grew its position in Home Depot by 1.3% in the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after purchasing an additional 222,958 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Home Depot by 1.1% in the second quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock valued at $1,231,485,000 after purchasing an additional 84,750 shares in the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

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Home Depot Company Profile

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

Analyst Recommendations for Home Depot (NYSE:HD)

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