Traders sold shares of Home Depot Inc (NYSE:HD) on strength during trading hours on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. $116.51 million flowed into the stock on the tick-up and $181.43 million flowed out of the stock on the tick-down, for a money net flow of $64.92 million out of the stock. Of all stocks tracked, Home Depot had the 0th highest net out-flow for the day. Home Depot traded up $0.40 for the day and closed at $195.17
A number of other research analysts also recently weighed in on HD. Bank of America reissued a “neutral” rating and issued a $202.00 price objective on shares of Home Depot in a research note on Thursday, April 11th. Morgan Stanley lifted their price target on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $192.00 price target on shares of Home Depot in a research report on Wednesday, May 1st. Evercore ISI assumed coverage on Home Depot in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price target on the stock. Finally, Wells Fargo & Co lifted their price target on Home Depot from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Home Depot currently has an average rating of “Buy” and a consensus price target of $204.71.
In other news, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the sale, the executive vice president now owns 39,794 shares of the company’s stock, valued at approximately $7,306,178.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the sale, the executive vice president now directly owns 86,813 shares in the company, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,194 shares of company stock worth $7,553,141. Company insiders own 0.27% of the company’s stock.
The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. The company has a market cap of $215.10 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The business had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. Home Depot’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 EPS. Equities research analysts predict that Home Depot Inc will post 10.09 earnings per share for the current year.
Home Depot announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: This story was first published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://dakotafinancialnews.com/2019/05/10/traders-sell-home-depot-hd-on-strength-on-analyst-downgrade.html.
About Home Depot (NYSE:HD)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
See Also: Earnings Per Share (EPS)
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.