Home Depot (NYSE:HD) Coverage Initiated by Analysts at Nomura

Nomura assumed coverage on shares of Home Depot (NYSE:HD) in a research note issued to investors on Friday, The Fly reports. The brokerage issued a neutral rating and a $240.00 target price on the home improvement retailer’s stock.

HD has been the topic of several other research reports. ValuEngine lowered Home Depot from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Credit Suisse Group increased their target price on Home Depot from $213.00 to $225.00 and gave the stock a neutral rating in a research note on Wednesday. Wedbush reissued a neutral rating and set a $230.00 target price (up previously from $190.00) on shares of Home Depot in a research note on Wednesday, August 21st. Citigroup increased their target price on Home Depot from $246.00 to $269.00 and gave the stock a buy rating in a research note on Friday, September 13th. Finally, Goldman Sachs Group initiated coverage on Home Depot in a research note on Thursday, July 11th. They set a buy rating and a $235.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $229.77.

HD traded down $0.10 during mid-day trading on Friday, hitting $232.84. 2,038,410 shares of the stock were exchanged, compared to its average volume of 2,590,316. The firm’s fifty day moving average is $232.23 and its two-hundred day moving average is $214.66. Home Depot has a 1-year low of $158.09 and a 1-year high of $238.99. The company has a market cap of $254.29 billion, a PE ratio of 23.54, a PEG ratio of 2.31 and a beta of 1.04.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.07 by $0.10. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The firm had revenue of $30.84 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same quarter in the prior year, the company earned $3.05 EPS. Home Depot’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Home Depot will post 10.12 EPS for the current year.

In other news, EVP Edward P. Decker sold 22,908 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the sale, the executive vice president now owns 87,343 shares of the company’s stock, valued at approximately $19,839,962.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William G. Lennie sold 9,200 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total value of $2,024,460.00. Following the sale, the executive vice president now directly owns 84,123 shares in the company, valued at approximately $18,511,266.15. The disclosure for this sale can be found here. Insiders sold a total of 177,508 shares of company stock worth $39,076,428 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HD. Krane Funds Advisors LLC purchased a new position in Home Depot during the 2nd quarter worth approximately $25,000. Enterprise Trust & Investment Co purchased a new position in Home Depot during the 3rd quarter worth approximately $27,000. Julex Capital Management LLC purchased a new position in Home Depot during the 3rd quarter worth approximately $29,000. Evolution Wealth Advisors LLC purchased a new position in Home Depot during the 2nd quarter worth approximately $31,000. Finally, Proffitt & Goodson Inc. grew its stake in Home Depot by 106.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after buying an additional 69 shares during the last quarter. 70.02% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Company Profile

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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The Fly

Analyst Recommendations for Home Depot (NYSE:HD)

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