Telsey Advisory Group Reiterates “Market Perform” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “market perform” rating reiterated by Telsey Advisory Group in a note issued to investors on Thursday, Benzinga reports. They presently have a $360.00 price objective on the home improvement retailer’s stock. Telsey Advisory Group’s target price would suggest a potential downside of 5.26% from the company’s previous close.

Several other brokerages have also recently issued reports on HD. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Truist Financial cut their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $387.79.

Home Depot Stock Performance

Shares of HD opened at $379.99 on Thursday. The stock has a 50-day moving average of $361.04 and a two-hundred day moving average of $354.23. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market cap of $377.44 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. As a group, research analysts predict that Home Depot will post 15.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HD. Gilbert & Cook Inc. raised its stake in shares of Home Depot by 3.9% in the fourth quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock valued at $1,475,000 after acquiring an additional 158 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Home Depot by 4.8% in the fourth quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock valued at $931,000 after acquiring an additional 122 shares in the last quarter. 9258 Wealth Management LLC raised its stake in shares of Home Depot by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock valued at $4,811,000 after acquiring an additional 557 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Home Depot by 161.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock valued at $2,188,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Home Depot by 46.7% in the fourth quarter. Panagora Asset Management Inc. now owns 81,131 shares of the home improvement retailer’s stock valued at $28,116,000 after acquiring an additional 25,811 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.