Home Depot (NYSE:HD) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Home Depot (NYSE:HD) in a research report sent to investors on Wednesday, Benzinga reports. Telsey Advisory Group currently has a $360.00 target price on the home improvement retailer’s stock.

Several other brokerages also recently weighed in on HD. Wedbush reaffirmed an outperform rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. Stifel Nicolaus lifted their target price on shares of Home Depot from $374.00 to $380.00 and gave the company a hold rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a buy rating and a $426.00 price target on the stock. Finally, Wells Fargo & Company reduced their target price on Home Depot from $425.00 to $400.00 and set an overweight rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of Moderate Buy and an average price target of $384.00.

Home Depot Stock Performance

Shares of NYSE HD traded up $0.30 during trading on Wednesday, reaching $348.64. 2,314,771 shares of the company traded hands, compared to its average volume of 3,403,096. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market cap of $345.72 billion, a P/E ratio of 23.38, a PEG ratio of 2.48 and a beta of 0.98. The firm’s fifty day simple moving average is $348.16 and its 200 day simple moving average is $353.18.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the prior year, the firm posted $3.82 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Home Depot will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.58%. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at about $25,000. Bare Financial Services Inc purchased a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $27,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $31,000. Finally, Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.