Zelman & Associates Lowers Home Depot (HD) to Hold

Zelman & Associates lowered shares of Home Depot (NYSE:HD) from a buy rating to a hold rating in a report published on Monday morning, The Fly reports.

A number of other research firms have also commented on HD. BTIG Research boosted their price target on shares of Home Depot to $215.00 and gave the company a buy rating in a research report on Thursday, December 7th. Argus upped their target price on shares of Home Depot from $180.00 to $190.00 and gave the stock a buy rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Home Depot from a buy rating to a hold rating in a research report on Friday, September 8th. Oppenheimer set a $178.00 target price on shares of Home Depot and gave the stock a buy rating in a research report on Tuesday, November 14th. Finally, SunTrust Banks upped their target price on shares of Home Depot to $167.00 and gave the stock a hold rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Home Depot presently has a consensus rating of Buy and a consensus price target of $182.72.

Home Depot (NYSE HD) traded up $1.23 during trading hours on Monday, reaching $183.03. 5,177,300 shares of the company’s stock were exchanged, compared to its average volume of 4,478,934. The firm has a market capitalization of $212,250.06, a price-to-earnings ratio of 25.24, a PEG ratio of 1.84 and a beta of 1.11. Home Depot has a 52-week low of $133.05 and a 52-week 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.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is 49.44%.

Home Depot announced that its board has authorized a share buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc boosted its holdings in Home Depot by 3.0% during the second quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock worth $11,295,000 after purchasing an additional 2,133 shares during the last quarter. Smithfield Trust Co. increased its holdings in Home Depot by 0.3% in the 2nd quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock valued at $1,287,000 after buying an additional 25 shares during the period. Quantitative Systematic Strategies LLC increased its holdings in Home Depot by 12.2% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 19,718 shares of the home improvement retailer’s stock valued at $3,001,000 after buying an additional 2,139 shares during the period. BP PLC increased its holdings in Home Depot by 16.2% in the 2nd quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock valued at $27,459,000 after buying an additional 25,000 shares during the period. Finally, Karp Capital Management Corp bought a new position in Home Depot in the 1st quarter valued at about $99,739,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

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About Home Depot

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.

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