Investors Buy The Home Depot Inc. (HD) on Weakness
Traders bought shares of The Home Depot Inc. (NYSE:HD) on weakness during trading hours on Thursday. $117.86 million flowed into the stock on the tick-up and $87.59 million flowed out of the stock on the tick-down, for a money net flow of $30.27 million into the stock. Of all companies tracked, The Home Depot had the 13th highest net in-flow for the day. The Home Depot traded down ($0.41) for the day and closed at $131.16
Several analysts have commented on HD shares. Oppenheimer Holdings Inc. raised their price objective on The Home Depot from $122.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, March 15th. Barclays PLC started coverage on The Home Depot in a report on Wednesday, March 30th. They issued an “overweight” rating and a $150.00 price objective on the stock. Goldman Sachs Group Inc. raised their price objective on The Home Depot from $137.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, April 6th. Jefferies Group reissued a “buy” rating and issued a $140.00 price objective on shares of The Home Depot in a report on Friday, April 8th. Finally, Vetr raised The Home Depot from a “hold” rating to a “buy” rating and set a $140.59 price objective on the stock in a report on Wednesday, April 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $144.69.
The company has a market capitalization of $163.16 billion and a PE ratio of 23.04. The company has a 50-day moving average of $129.56 and a 200-day moving average of $128.82.
The Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 17th. The home improvement retailer reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. The company had revenue of $22.80 billion for the quarter, compared to analyst estimates of $22.35 billion. The Home Depot’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. Equities analysts anticipate that The Home Depot Inc. will post $6.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Tuesday, May 31st.
In other The Home Depot news, EVP William G. Lennie sold 22,996 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $131.49, for a total transaction of $3,023,744.04. Following the transaction, the executive vice president now owns 57,361 shares of the company’s stock, valued at approximately $7,542,397.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wayne M. Hewett purchased 350 shares of The Home Depot stock in a transaction on Tuesday, May 31st. The shares were acquired at an average cost of $132.53 per share, for a total transaction of $46,385.50. Following the purchase, the director now owns 1,050 shares in the company, valued at $139,156.50. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors have modified their holdings of HD. Vanguard Group Inc. raised its position in shares of The Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 73,747,144 shares of the home improvement retailer’s stock worth $9,753,059,000 after buying an additional 668,060 shares in the last quarter. Morgan Stanley raised its position in shares of The Home Depot by 14.9% in the fourth quarter. Morgan Stanley now owns 10,268,310 shares of the home improvement retailer’s stock worth $1,357,984,000 after buying an additional 1,334,313 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of The Home Depot by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,850,447 shares of the home improvement retailer’s stock worth $773,721,000 after buying an additional 33,357 shares in the last quarter. Jennison Associates LLC raised its position in shares of The Home Depot by 273.5% in the fourth quarter. Jennison Associates LLC now owns 4,393,726 shares of the home improvement retailer’s stock worth $581,070,000 after buying an additional 3,217,223 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of The Home Depot by 1.2% in the fourth quarter. American Century Companies Inc. now owns 3,824,524 shares of the home improvement retailer’s stock worth $505,793,000 after buying an additional 47,212 shares in the last quarter.
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 serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.