Stifel Nicolaus Trims Home Depot (NYSE:HD) Target Price to $375.00

Home Depot (NYSE:HD) had its target price reduced by research analysts at Stifel Nicolaus from $380.00 to $375.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the home improvement retailer’s stock. Stifel Nicolaus’ target price points to a potential upside of 7.12% from the stock’s current price.

HD has been the subject of a number of other research reports. TD Cowen decreased their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Tuesday. DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and raised their price objective for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. Raymond James restated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Finally, Citigroup dropped their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $383.00.

Home Depot Stock Performance

Shares of NYSE HD opened at $350.07 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The company has a 50 day simple moving average of $348.96 and a two-hundred day simple moving average of $353.14. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market cap of $347.13 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $4.65 EPS. As a group, analysts predict that Home Depot will post 15.28 earnings per share for the current year.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Bare Financial Services Inc acquired a new position in Home Depot in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter worth about $33,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Home Depot in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

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.