Home Depot (HD) Hits New 1-Year High at $186.56

Home Depot, Inc. (The) (NYSE:HD)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $186.56 and last traded at $184.73, with a volume of 5011800 shares changing hands. The stock had previously closed at $182.58.

HD has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Sunday, September 10th. Royal Bank of Canada set a $179.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Bank of America boosted their price objective on shares of Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $183.28.

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 firm has a market cap of $218,730.00, a PE ratio of 25.66, a P/E/G ratio of 1.88 and a beta of 1.11.

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 consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts forecast that Home Depot, Inc. will post 7.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.90%. The ex-dividend date was Wednesday, November 29th. Home Depot’s payout ratio is 49.38%.

Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

In related news, EVP Matt Carey sold 41,396 shares of the business’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 completion of the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of Home Depot by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock valued at $11,295,000 after acquiring an additional 2,133 shares during the last quarter. Smithfield Trust Co. increased its stake in shares of Home Depot by 0.3% during the 2nd quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock valued at $1,287,000 after acquiring an additional 25 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of Home Depot by 12.2% during 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 acquiring an additional 2,139 shares during the last quarter. BP PLC increased its stake in shares of Home Depot by 16.2% during the 2nd quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock valued at $27,459,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Home Depot during the 1st quarter valued at about $99,739,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

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Home Depot Company Profile

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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