Home Depot’s (HD) “Market Perform” Rating Reiterated at Telsey Advisory Group

Home Depot (NYSE:HD)‘s stock had its “market perform” rating reissued by equities research analysts at Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $360.00 price objective on the home improvement retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential downside of 2.83% from the company’s current price.

A number of other equities research analysts have also recently issued reports on HD. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada reduced their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. TD Cowen lowered 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. Finally, DA Davidson raised their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.79.

Home Depot Stock Performance

Shares of HD stock opened at $370.49 on Thursday. The firm has a market cap of $367.38 billion, a PE ratio of 24.85, a P/E/G ratio of 2.49 and a beta of 1.00. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The company’s fifty day simple moving average is $359.31 and its 200-day simple moving average is $354.03. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. Burkett Financial Services LLC bought a new stake in shares of Home Depot in the 4th quarter valued at $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot during the 1st quarter valued at $38,000. 70.86% of the stock is currently owned by institutional investors.

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.