Home Depot Inc (NYSE:HD) opened at 156.92 on Friday. The company has a market capitalization of $189.26 billion, a price-to-earnings ratio of 24.39 and a beta of 1.09. However, intense competition and a soft economic recovery may prove deterrents, pushing back home improvement projects. This, for a company that is expected to have revenues of close to $100 billion in 2017. The research report and subsequent rating should be used to complement individual homework and strategy. Vetr upgraded shares of Home Depot from a "sell" rating to a "buy" rating and set a $146.79 target price for the company in a research report on Monday, February 13th.
Indeed, RBC Capital Markets reiterated their outperform stance on May 15, with a target price of $166, which represents an upside of 5.79% from the last closing price. The Home Depot Inc. had 50 analyst reports since August 19, 2015 according to SRatingsIntel. Buy rating has been given by 4 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 3 analysts given HOLD rating. On a consensus basis this yields to a Buy.
Home Depot, the largest USA home-improvement retailer, is profiting from the rebound in housing prices, which has made property owners more willing to revamp their properties because they see them as a sound investment. The Home Depot Inc. has $165 highest and $106 lowest target. Cambria Investment Management L.P. now owns 14,896 shares of the home improvement retailer's stock valued at $2,187,000 after buying an additional 183 shares in the last quarter.
The Atlanta-based home improvement warehouse operator reported Q1 earnings per share (EPS) of $1.67, which was $0.06 better than the Wall Street consensus estimate of $1.61. The firm had revenue of $23.89 billion for the quarter, compared to analysts' expectations of $23.74 billion. A year earlier, it earned $1.8 billion, or $1.44 per share.
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The number of shares The Home Depot, Inc. now has in issue is 1,202,918,000, which have a value of 157.14 per share calculating The Home Depot, Inc.'s market capitalisation to 189.03B Dollars.
Still, enthusiasm for Home Depot's performance has cooled a bit.
"While U.S. GDP forecasts are mixed, housing continues to be a growing asset class and our sales thus far in May have been very good", Home Depot's Chief Financial Officer Carol Tomé said on a conference call. After a recent check, company stock has been trading near the $157.04 mark. Wsfs Capital Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $582,000. Its share price has risen 13.17% in three months and is up 0.28% for the last five trades. The stock has increased 18 percent in the last 12 months. Pineno Levin & Ford Asset Management Inc. raised its position in shares of Home Depot by 0.3% in the first quarter. The home improvement retailer has a strong history of beating estimates and has become a beloved retailer due to the perceived ability to avoid the Amazon (NASDAQ:AMZN) effect. Finally, BlackRock Fund Advisors boosted its stake in Home Depot by 2.7% in the third quarter. Spending on home improvement projects is expected to grow 2% over the coming decade to nearly $270 billion in 2025, according to the Joint Center for Housing Studies of Harvard University. February through April, building material store sales are up 7.1%.