Home Depot (NYSE:HD) Stock Rating Lowered by Gabelli

Home Depot (NYSE:HD) was downgraded by research analysts at Gabelli from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, MarketBeat reports. Gabelli also issued estimates for Home Depot’s FY2021 earnings at $11.00 EPS, FY2022 earnings at $12.00 EPS, FY2023 earnings at $12.85 EPS and FY2024 earnings at $13.60 EPS. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently commented on the stock. Robert W. Baird lifted their target price on shares of Facebook from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI started coverage on shares of Polarityte in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 target price for the company. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 target price (down previously from $7.50) on shares of Tile Shop in a research report on Wednesday, May 1st. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $70.00 target price on shares of Church & Dwight in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $206.94.

Shares of NYSE HD opened at $215.61 on Tuesday. Home Depot has a twelve month low of $158.09 and a twelve month high of $219.30. The stock has a market cap of $239.05 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.00 and a beta of 1.12. The stock has a 50 day moving average price of $205.44. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.26 and a current ratio of 1.04.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.10. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The company had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. During the same period in the previous year, the business earned $2.08 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts predict that Home Depot will post 10.16 earnings per share for the current year.

In related news, EVP Teresa Wynn Roseborough sold 8,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.38, for a total value of $1,652,230.00. Following the completion of the transaction, the executive vice president now owns 13,357 shares of the company’s stock, valued at approximately $2,596,333.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 13,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the completion of the transaction, the executive vice president now directly owns 64,575 shares of the company’s stock, valued at approximately $12,482,347.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,522 shares of company stock valued at $16,156,831. Insiders own 0.27% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Paragon Capital Management LLC boosted its holdings in Home Depot by 32.3% in the 4th quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock worth $284,000 after buying an additional 404 shares during the period. RDL Financial Inc. lifted its position in Home Depot by 5.2% during the fourth quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock valued at $2,372,000 after acquiring an additional 678 shares during the last quarter. PFG Advisors purchased a new position in shares of Home Depot in the fourth quarter worth $702,000. First Trust Advisors LP raised its holdings in shares of Home Depot by 2.8% in the first quarter. First Trust Advisors LP now owns 435,297 shares of the home improvement retailer’s stock worth $83,529,000 after buying an additional 11,951 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Home Depot in the fourth quarter worth $1,706,000. 69.35% of the stock is owned by institutional investors.

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.

Further Reading: The primary rules of Elliott Wave theory

Analyst Recommendations for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.