Home Depot (NYSE:HD) Receives New Coverage from Analysts at Sanford C. Bernstein

Home Depot (NYSE:HD) Receives New Coverage from Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein started coverage on shares of Home Depot (NYSE:HD – Get Rating) in a note issued to investors on Tuesday, The Fly reports. The firm set a “market perform” rating and a $337.00 price target on the home improvement retailer’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 5.29% from the stock’s previous close.

A number of other brokerages have also recently commented on HD. Cowen assumed coverage on Home Depot in a research report on Wednesday, October 19th. They set an “outperform” rating on the stock. Wedbush dropped their price target on Home Depot to $280.00 in a research report on Wednesday, November 16th. Exane BNP Paribas cut Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price target on the stock. in a research report on Wednesday, October 19th. UBS Group upped their price target on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, Piper Sandler dropped their price objective on Home Depot from $327.00 to $323.00 and set a “neutral” rating on the stock in a report on Wednesday, November 16th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $345.92.

Home Depot Stock Down 2.4 %

HD stock opened at $320.08 on Tuesday. The stock’s fifty day simple moving average is $296.66 and its two-hundred day simple moving average is $294.41. The company has a current ratio of 1.39, a quick ratio of 0.33 and a debt-to-equity ratio of 32.16. Home Depot has a 1-year low of $264.51 and a 1-year high of $420.61. The stock has a market cap of $327.68 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.75 and a beta of 0.96.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $0.13. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. The firm had revenue of $38.87 billion for the quarter, compared to analysts’ expectations of $37.96 billion. During the same quarter in the prior year, the firm earned $3.92 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that Home Depot will post 16.64 EPS for the current year.

Home Depot announced that its Board of Directors has authorized a share buyback program on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paula Santilli acquired 1,583 shares of the stock in a transaction dated Wednesday, November 16th. The stock was acquired at an average price of $315.80 per share, with a total value of $499,911.40. Following the completion of the acquisition, the director now owns 1,583 shares in the company, valued at approximately $499,911.40. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HD. GW&K Investment Management LLC purchased a new position in shares of Home Depot in the first quarter worth $25,000. First Personal Financial Services increased its stake in shares of Home Depot by 81.1% in the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 43 shares during the period. Fairfield Bush & CO. purchased a new position in shares of Home Depot in the first quarter worth $27,000. Clear Perspectives Financial Planning LLC increased its position in Home Depot by 135.0% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock valued at $28,000 after purchasing an additional 54 shares during the period. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Home Depot during the 2nd quarter valued at $28,000. 68.66% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

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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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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