Analysts Set Home Depot Inc (HD) Target Price at $191.82

Home Depot Inc (NYSE:HD) has received an average rating of “Buy” from the thirty-two analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $191.82.

A number of research firms recently commented on HD. Deutsche Bank upped their price target on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Argus upped their price target on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $220.00 price target (up from $190.00) on shares of Home Depot in a report on Friday, January 19th. Jefferies Group reiterated a “buy” rating and set a $223.00 price target on shares of Home Depot in a report on Monday, February 5th. Finally, Atlantic Securities upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price target for the company from $174.16 to $174.95 in a report on Tuesday, November 28th.

In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in HD. Vanguard Group Inc. grew its position in Home Depot by 0.9% during the 2nd 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 during the last quarter. Capital Research Global Investors grew its position in Home Depot by 0.9% during the 2nd 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 during the last quarter. Northern Trust Corp grew its position in Home Depot by 1.3% during the 2nd 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 during the last quarter. Geode Capital Management LLC grew its position in Home Depot by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock valued at $2,207,871,000 after purchasing an additional 259,863 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Home Depot by 65.4% during the 4th quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock valued at $1,559,421,000 after purchasing an additional 3,254,382 shares during the last quarter. 70.36% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot (NYSE HD) traded up $1.70 during trading hours on Wednesday, reaching $186.97. 7,565,848 shares of the company were exchanged, compared to its average volume of 5,362,960. Home Depot has a 52 week low of $141.00 and a 52 week high of $207.60. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The company has a market cap of $218,330.00, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.36 and a beta of 1.08.

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

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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.

Analyst Recommendations for Home Depot (NYSE:HD)

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