SunTrust Banks Increases Home Depot (HD) Price Target to $175.00

Home Depot (NYSE:HD) had its price objective increased by equities researchers at SunTrust Banks from $167.00 to $175.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the home improvement retailer’s stock. SunTrust Banks’ price target indicates a potential downside of 4.59% from the company’s current price. SunTrust Banks also issued estimates for Home Depot’s Q1 2019 earnings at $1.83 EPS.

HD has been the topic of several other research reports. Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Thursday, August 24th. Telsey Advisory Group lifted their price objective on Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Robert W. Baird reiterated an “outperform” rating and issued a $195.00 price objective on shares of Home Depot in a report on Thursday, November 30th. Bank of America lifted their price objective on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Longbow Research reiterated a “buy” rating and issued a $175.00 price objective on shares of Home Depot in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Home Depot has an average rating of “Buy” and an average price target of $182.06.

Home Depot (NYSE HD) opened at $183.41 on Thursday. The company has a market capitalization of $212,530.33, a PE ratio of 25.28, a PEG ratio of 1.85 and a beta of 1.11. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot has a twelve month low of $131.10 and a twelve month high of $186.31.

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

Home Depot declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of HD. Janus Henderson Group PLC grew its holdings in shares of Home Depot by 2,013.2% during the 2nd quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock worth $509,247,000 after acquiring an additional 3,162,631 shares during the period. Capital International Investors grew its holdings in shares of Home Depot by 132.5% during the 3rd quarter. Capital International Investors now owns 3,268,036 shares of the home improvement retailer’s stock worth $534,520,000 after acquiring an additional 1,862,134 shares during the period. Harbour Capital Advisors LLC grew its holdings in shares of Home Depot by 15,121.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock worth $12,158,000 after acquiring an additional 1,852,784 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Home Depot by 43.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 5,731,806 shares of the home improvement retailer’s stock worth $841,602,000 after purchasing an additional 1,734,963 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Home Depot by 8,118.8% in the 3rd quarter. Stifel Financial Corp now owns 1,174,227 shares of the home improvement retailer’s stock worth $191,976,000 after purchasing an additional 1,159,940 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

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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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