HSBC Reaffirms “Reduce” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HDGet Free Report)‘s stock had its “reduce” rating reissued by stock analysts at HSBC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $323.00 price target on the home improvement retailer’s stock. HSBC’s target price would indicate a potential downside of 10.62% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird reissued an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research note on Wednesday, February 14th. Mizuho started coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price on the stock. TD Cowen increased their target price on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Stifel Nicolaus increased their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Finally, Citigroup increased their target price on Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.35.

Check Out Our Latest Stock Report on HD

Home Depot Trading Down 0.4 %

NYSE:HD traded down $1.62 during midday trading on Wednesday, hitting $361.38. The stock had a trading volume of 1,521,705 shares, compared to its average volume of 3,190,030. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a market capitalization of $358.13 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.43 and a beta of 0.98. The stock has a 50-day moving average of $369.87 and a 200 day moving average of $335.96. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. Home Depot’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Home Depot will post 15.38 EPS for the current year.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the company. Bare Financial Services Inc purchased a new position in Home Depot in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC purchased a new position in Home Depot in the 2nd quarter worth approximately $26,000. Keener Financial Planning LLC purchased a new position in Home Depot in the 4th quarter worth approximately $31,000. Finally, Fairfield Bush & CO. purchased a new position in Home Depot in the 1st quarter worth approximately $27,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

About Home Depot

(Get Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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