Wells Fargo Begins Covering Home Depot (NYSE:HD) Stock. “Shares to Hit $205”

April 24, 2018 - By Adrian Erickson

The Home Depot, Inc. (NYSE:HD) Logo

Investors sentiment decreased to 0.93 in 2017 Q4. Its down 0.21, from 1.14 in 2017Q3. It dropped, as 51 investors sold The Home Depot, Inc. shares while 662 reduced holdings. 164 funds opened positions while 501 raised stakes. 788.59 million shares or 0.96% less from 796.24 million shares in 2017Q3 were reported.

Qvt Financial Ltd Partnership has invested 0.61% of its portfolio in The Home Depot, Inc. (NYSE:HD). Cohen Lawrence B, Massachusetts-based fund reported 1,813 shares. Trust Of Vermont stated it has 1.02% in The Home Depot, Inc. (NYSE:HD). Balasa Dinverno & Foltz Lc accumulated 13,726 shares. 89,533 were accumulated by Private Asset Mngmt Inc. Fosun Interest Ltd holds 0.11% or 6,500 shares in its portfolio. Hanson Mcclain invested in 8,705 shares. Old Point And Fincl Service N A holds 2,282 shares or 0.23% of its portfolio. Amp Invsts Ltd holds 0.77% of its portfolio in The Home Depot, Inc. (NYSE:HD) for 755,966 shares. Steinberg Global Asset Mgmt owns 21,348 shares for 0.58% of their portfolio. Frontier Inv reported 0.03% of its portfolio in The Home Depot, Inc. (NYSE:HD). Saturna Cap holds 8,311 shares. Puzo Michael J invested 1.87% in The Home Depot, Inc. (NYSE:HD). First Personal holds 6,996 shares. Trillium Asset Mgmt Ltd Liability Corp, a Massachusetts-based fund reported 125,461 shares.

Since December 7, 2017, it had 2 insider purchases, and 5 selling transactions for $36.57 million activity. $1.19 million worth of stock was bought by CODINA ARMANDO M on Friday, March 2. $20.89 million worth of The Home Depot, Inc. (NYSE:HD) was sold by Menear Craig A. Another trade for 16,827 shares valued at $3.00M was bought by BRENNEMAN GREGORY D. 37,680 shares were sold by Campbell Ann Marie, worth $7.02M on Thursday, February 22. Another trade for 17,660 shares valued at $3.31 million was made by Decker Edward P. on Tuesday, February 27. 41,396 shares were sold by Carey Matt, worth $7.58M on Friday, December 8.

Why Has Wells Fargo Given Home Depot (NYSE:HD) a $205 Price Target

In an analyst report shared with investors on Tuesday, 24 April, equity research analysts at Wells Fargo initiated coverage for Home Depot (NYSE:HD) shares. The firm has decided to set a “Outperform” rating along with a $205, adding 14.45 % to the target.

Investors sentiment decreased to 0.93 in 2017 Q4. Its down 0.21, from 1.14 in 2017Q3. It dropped, as 51 investors sold The Home Depot, Inc. shares while 662 reduced holdings. 164 funds opened positions while 501 raised stakes. 788.59 million shares or 0.96% less from 796.24 million shares in 2017Q3 were reported.

Qvt Financial Ltd Partnership has invested 0.61% of its portfolio in The Home Depot, Inc. (NYSE:HD). Cohen Lawrence B, Massachusetts-based fund reported 1,813 shares. Trust Of Vermont stated it has 1.02% in The Home Depot, Inc. (NYSE:HD). Balasa Dinverno & Foltz Lc accumulated 13,726 shares. 89,533 were accumulated by Private Asset Mngmt Inc. Fosun Interest Ltd holds 0.11% or 6,500 shares in its portfolio. Hanson Mcclain invested in 8,705 shares. Old Point And Fincl Service N A holds 2,282 shares or 0.23% of its portfolio. Amp Invsts Ltd holds 0.77% of its portfolio in The Home Depot, Inc. (NYSE:HD) for 755,966 shares. Steinberg Global Asset Mgmt owns 21,348 shares for 0.58% of their portfolio. Frontier Inv reported 0.03% of its portfolio in The Home Depot, Inc. (NYSE:HD). Saturna Cap holds 8,311 shares. Puzo Michael J invested 1.87% in The Home Depot, Inc. (NYSE:HD). First Personal holds 6,996 shares. Trillium Asset Mgmt Ltd Liability Corp, a Massachusetts-based fund reported 125,461 shares.

Since December 7, 2017, it had 2 insider purchases, and 5 selling transactions for $36.57 million activity. $1.19 million worth of stock was bought by CODINA ARMANDO M on Friday, March 2. $20.89 million worth of The Home Depot, Inc. (NYSE:HD) was sold by Menear Craig A. Another trade for 16,827 shares valued at $3.00M was bought by BRENNEMAN GREGORY D. 37,680 shares were sold by Campbell Ann Marie, worth $7.02M on Thursday, February 22. Another trade for 17,660 shares valued at $3.31 million was made by Decker Edward P. on Tuesday, February 27. 41,396 shares were sold by Carey Matt, worth $7.58M on Friday, December 8.

The Home Depot, Inc. (NYSE:HD) Ratings Coverage

Among 21 analysts covering Home Depot (NYSE:HD), 16 have Buy rating, 0 Sell and 5 Hold. Therefore 76% are positive. Home Depot has $230.0 highest and $170.0 lowest target. $203.94’s average target is 13.86% above currents $179.12 stock price. Home Depot had 38 analyst reports since October 30, 2017 according to SRatingsIntel. The stock of The Home Depot, Inc. (NYSE:HD) has “Buy” rating given on Tuesday, February 20 by Robert W. Baird. Credit Suisse maintained The Home Depot, Inc. (NYSE:HD) on Wednesday, November 29 with “Buy” rating. The firm has “Buy” rating given on Tuesday, January 30 by Guggenheim. The firm has “Buy” rating given on Wednesday, November 8 by Bank of America. The rating was maintained by Stifel Nicolaus on Friday, December 22 with “Buy”. The rating was upgraded by Atlantic Securities to “Overweight” on Tuesday, November 28. Telsey Advisory Group maintained the stock with “Outperform” rating in Wednesday, November 15 report. On Wednesday, February 21 the stock rating was maintained by Stifel Nicolaus with “Buy”. RBC Capital Markets maintained the stock with “Buy” rating in Thursday, December 7 report. UBS maintained The Home Depot, Inc. (NYSE:HD) rating on Friday, January 26. UBS has “Buy” rating and $212.0 target.

The stock increased 0.82% or $1.46 during the last trading session, reaching $179.12. About 323,335 shares traded. The Home Depot, Inc. (NYSE:HD) has risen 18.94% since April 24, 2017 and is uptrending. It has outperformed by 7.39% the S&P500.

Analysts await The Home Depot, Inc. (NYSE:HD) to report earnings on May, 15. They expect $2.08 EPS, up 24.55 % or $0.41 from last year’s $1.67 per share. HD’s profit will be $2.40 billion for 21.53 P/E if the $2.08 EPS becomes a reality. After $1.69 actual EPS reported by The Home Depot, Inc. for the previous quarter, Wall Street now forecasts 23.08 % EPS growth.

The Home Depot, Inc. operates as a home improvement retailer. The company has market cap of $206.48 billion. It operates The Home Depot stores that sell various building materials, home improvement products, and lawn and garden products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me , and professional customers. It has a 24.56 P/E ratio. The firm offers installation programs that include flooring, cabinets, countertops, water heaters, and sheds; and professional installation in various categories sold through its in-home sales programs, such as roofing, siding, windows, cabinet refacing, furnaces, and central air systems, as well as acts as a contractor to provide installation services to its DIFM clients through third-party installers.

The Home Depot, Inc. (NYSE:HD) Institutional Positions Chart

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