Home Depot (HD) Downgraded by Bank of America
Bank of America downgraded shares of Home Depot (NYSE:HD) from a buy rating to a neutral rating in a research report released on Friday morning, MarketBeat.com reports. The firm currently has $195.00 price objective on the home improvement retailer’s stock, down from their previous price objective of $219.00.
HD has been the topic of a number of other research reports. Wells Fargo & Co reiterated a buy rating and set a $230.00 price target on shares of Home Depot in a report on Sunday, September 16th. Zacks Investment Research upgraded shares of Home Depot from a hold rating to a buy rating and set a $228.00 target price on the stock in a report on Friday, October 5th. Credit Suisse Group restated a neutral rating and issued a $204.00 target price (down previously from $222.00) on shares of Home Depot in a report on Wednesday, October 17th. UBS Group dropped their target price on shares of Home Depot from $225.00 to $220.00 and set a buy rating on the stock in a report on Wednesday, November 14th. Finally, Royal Bank of Canada dropped their target price on shares of Home Depot from $218.00 to $208.00 and set an outperform rating on the stock in a report on Monday, November 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $204.16.
Shares of HD opened at $177.02 on Friday. The stock has a market capitalization of $202.54 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.09. Home Depot has a fifty-two week low of $166.06 and a fifty-two week high of $215.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be given a $1.03 dividend. The ex-dividend date is Wednesday, November 28th. This represents a $4.12 annualized dividend and a yield of 2.33%. Home Depot’s payout ratio is presently 55.23%.
In other Home Depot news, Director Manuel Kadre purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were acquired at an average cost of $177.48 per share, for a total transaction of $354,960.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $354,960. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Craig A. Menear sold 117,327 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $180.42, for a total transaction of $21,168,137.34. Following the completion of the transaction, the chief executive officer now owns 264,970 shares in the company, valued at $47,805,887.40. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Viridian Ria LLC grew its stake in Home Depot by 12.1% during the second quarter. Viridian Ria LLC now owns 2,355 shares of the home improvement retailer’s stock valued at $465,000 after acquiring an additional 255 shares in the last quarter. Nadler Financial Group Inc. grew its stake in Home Depot by 11.6% during the second quarter. Nadler Financial Group Inc. now owns 2,545 shares of the home improvement retailer’s stock valued at $496,000 after acquiring an additional 264 shares in the last quarter. Eagle Capital Management LLC grew its stake in Home Depot by 1.4% during the third quarter. Eagle Capital Management LLC now owns 19,839 shares of the home improvement retailer’s stock valued at $4,110,000 after acquiring an additional 265 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in Home Depot by 6.5% during the second quarter. Exencial Wealth Advisors LLC now owns 4,385 shares of the home improvement retailer’s stock valued at $856,000 after acquiring an additional 266 shares in the last quarter. Finally, Bingham Osborn & Scarborough LLC grew its stake in Home Depot by 11.2% during the second quarter. Bingham Osborn & Scarborough LLC now owns 2,712 shares of the home improvement retailer’s stock valued at $529,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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