Home Depot (NYSE:HD) Price Target Increased to $225.00 by Analysts at Morgan Stanley

Home Depot (NYSE:HD) had its price target upped by Morgan Stanley from $210.00 to $225.00 in a report released on Thursday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

HD has been the topic of a number of other reports. Stifel Nicolaus upped their target price on shares of Home Depot to $230.00 and gave the company a buy rating in a report on Monday, August 12th. Goldman Sachs Group began coverage on shares of Home Depot in a report on Thursday, July 11th. They issued a buy rating and a $235.00 price target on the stock. Zacks Investment Research raised shares of Home Depot from a sell rating to a hold rating in a report on Thursday, May 23rd. Robert W. Baird increased their price target on shares of Home Depot from $220.00 to $230.00 and gave the company an outperform rating in a report on Wednesday. Finally, UBS Group increased their price target on shares of Home Depot from $215.00 to $240.00 and gave the company a buy rating in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $220.11.

Shares of Home Depot stock traded down $3.14 during trading hours on Thursday, reaching $217.88. 1,394,508 shares of the company’s stock were exchanged, compared to its average volume of 3,855,862. The company has a 50 day moving average of $212.40 and a two-hundred day moving average of $199.39. Home Depot has a fifty-two week low of $158.09 and a fifty-two week high of $222.65. The stock has a market cap of $238.86 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.01 and a beta of 1.12.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The company had revenue of $30.84 billion during the quarter, compared to the consensus estimate of $30.98 billion. During the same period in the prior year, the business posted $3.05 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Home Depot will post 10.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.50%. Home Depot’s dividend payout ratio is currently 55.01%.

In other news, EVP Matt Carey sold 34,688 shares of Home Depot stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the transaction, the executive vice president now owns 81,982 shares in the company, valued at $16,567,742.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Carol B. Tome sold 26,334 shares of Home Depot stock in a transaction on Friday, May 31st. The stock was sold at an average price of $189.17, for a total transaction of $4,981,602.78. Following the transaction, the chief financial officer now owns 519,253 shares in the company, valued at approximately $98,227,090.01. The disclosure for this sale can be found here. Insiders sold 69,522 shares of company stock worth $13,643,931 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Several large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Home Depot by 8,331.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after purchasing an additional 21,212,570 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Home Depot by 3,457.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock worth $2,005,132,000 after purchasing an additional 9,370,409 shares in the last quarter. Morgan Stanley raised its holdings in Home Depot by 0.5% in the 2nd quarter. Morgan Stanley now owns 8,327,709 shares of the home improvement retailer’s stock worth $1,731,916,000 after purchasing an additional 44,258 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Home Depot by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 7,199,871 shares of the home improvement retailer’s stock worth $1,381,583,000 after purchasing an additional 158,174 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Home Depot by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,156,949 shares of the home improvement retailer’s stock worth $1,488,431,000 after purchasing an additional 25,410 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Analyst Recommendations for Home Depot (NYSE:HD)

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