Home Depot Inc (NYSE:HD) Sees Significant Decrease in Short Interest

Home Depot Inc (NYSE:HD) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 11,130,000 shares, a drop of 7.8% from the September 30th total of 12,070,000 shares. Based on an average daily volume of 3,590,000 shares, the short-interest ratio is presently 3.1 days. Currently, 1.0% of the company’s stock are sold short.

A number of equities analysts have issued reports on HD shares. Citigroup raised their target price on shares of Home Depot from $246.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Argus set a $240.00 target price on shares of Home Depot and gave the stock a “buy” rating in a report on Wednesday, August 21st. DZ Bank cut shares of Home Depot from a “hold” rating to a “sell” rating in a report on Thursday, September 19th. Wells Fargo & Co raised their target price on shares of Home Depot from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group raised their target price on shares of Home Depot from $246.00 to $268.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $233.54.

NYSE HD opened at $238.85 on Tuesday. Home Depot has a 12 month low of $158.09 and a 12 month high of $239.31. The firm has a market capitalization of $259.87 billion, a PE ratio of 24.15, a P/E/G ratio of 2.36 and a beta of 1.04. The company’s 50 day simple moving average is $233.67 and its 200 day simple moving average is $216.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 19th. The home improvement retailer reported $2.53 EPS for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.01. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The business had revenue of $27.22 billion for the quarter, compared to analyst estimates of $27.51 billion. During the same quarter last year, the business earned $2.51 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Home Depot will post 10.12 EPS for the current year.

In other Home Depot news, CFO Carol B. Tome sold 145,400 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the transaction, the chief financial officer now owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William G. Lennie sold 9,200 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the completion of the transaction, the executive vice president now directly owns 84,123 shares in the company, valued at approximately $18,511,266.15. The disclosure for this sale can be found here. Insiders have sold 177,508 shares of company stock worth $39,076,428 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of HD. Enterprise Trust & Investment Co acquired a new position in Home Depot in the 3rd quarter worth approximately $27,000. Krane Funds Advisors LLC acquired a new position in Home Depot in the 2nd quarter worth approximately $25,000. Julex Capital Management LLC acquired a new position in Home Depot in the 3rd quarter worth approximately $29,000. Proffitt & Goodson Inc. boosted its stake in Home Depot by 106.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 69 shares during the period. Finally, Evolution Wealth Advisors LLC acquired a new position in Home Depot in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 70.11% 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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