Traders Sell Home Depot (HD) on Strength (HD)

Investors sold shares of Home Depot Inc (NYSE:HD) on strength during trading on Wednesday. $248.22 million flowed into the stock on the tick-up and $378.27 million flowed out of the stock on the tick-down, for a money net flow of $130.05 million out of the stock. Of all companies tracked, Home Depot had the 33rd highest net out-flow for the day. Home Depot traded up $0.25 for the day and closed at $191.29

Several equities analysts have recently commented on HD shares. 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. Robert W. Baird set a $175.00 price target on shares of Home Depot and gave the stock a “buy” rating in a research note on Friday, October 13th. Royal Bank of Canada set a $179.00 price target on shares of Home Depot and gave the stock a “buy” rating in a research note on Monday, October 30th. KeyCorp initiated coverage on shares of Home Depot in a research note on Tuesday, November 7th. They issued a “sector weight” rating for the company. Finally, Bank of America increased their price target on shares of Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $190.32.

The firm has a market capitalization of $215,010.00, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.08. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.03. The business had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. equities analysts forecast that Home Depot Inc will post 7.38 earnings per share for the current year.

Home Depot announced that its Board of Directors 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

In other Home Depot 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 owns 29,559 shares in the company, valued at $5,410,183.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Wela Strategies Inc. purchased a new stake in Home Depot in the second quarter worth approximately $217,000. Parkside Financial Bank & Trust boosted its holdings in Home Depot by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 3,929 shares of the home improvement retailer’s stock worth $603,000 after purchasing an additional 18 shares during the last quarter. Warren Averett Asset Management LLC boosted its holdings in Home Depot by 4.4% in the second quarter. Warren Averett Asset Management LLC now owns 5,389 shares of the home improvement retailer’s stock worth $827,000 after purchasing an additional 228 shares during the last quarter. Winfield Associates Inc. boosted its holdings in Home Depot by 0.6% in the second quarter. Winfield Associates Inc. now owns 8,942 shares of the home improvement retailer’s stock worth $1,371,000 after purchasing an additional 56 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its holdings in Home Depot by 35.3% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 10,360 shares of the home improvement retailer’s stock worth $1,589,000 after purchasing an additional 2,704 shares during the last quarter. Hedge funds and other institutional investors own 70.51% 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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