Tuesday, March 9, 2021

Guggenheim lifts The Home Depot Inc. [HD] price estimate. Who else is bullish?

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The Home Depot Inc. [NYSE: HD] slipped around -5.71 points on Thursday, while shares priced at $268.34 at the close of the session, down -2.08%. The company report on December 24, 2020 that The Home Depot Completes Acquisition of HD Supply.

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The Home Depot®, the world’s largest home improvement retailer, has completed the acquisition of HD Supply Holdings, Inc., for a total enterprise value (including net cash) of approximately $8 billion. HD Supply is a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The agreement to acquire HD Supply was announced on November 16, 2020.


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“We’re thrilled to welcome HD Supply associates to The Home Depot,” said Craig Menear, chairman and CEO of The Home Depot. “The combination of the two businesses will enable us to better serve both existing and new MRO customers, and I look forward to the value this acquisition will bring to our associates, customers and shareholders.”.

The Home Depot Inc. stock is now 1.02% up from its year-to-date (YTD) trading value. HD Stock saw the intraday high of $274.895 and lowest of $267.67 per share. The company’s 52-week high price is 292.95, which means current price is +2.79% above from all time high which was touched on 01/13/21.

Compared to the average trading volume of 3.85M shares, HD reached a trading volume of 4613010 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The Home Depot Inc. [HD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HD shares is $304.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HD stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Guggenheim have made an estimate for The Home Depot Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 13, 2021. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $300 to $315. The new note on the price target was released on November 16, 2020, representing the official price target for The Home Depot Inc. stock. Previously, the target price had yet another raise to $315, while Gordon Haskett analysts kept a Buy rating on HD stock. On October 20, 2020, analysts increased their price target for HD shares from 330 to 350.

The Average True Range (ATR) for The Home Depot Inc. is set at 4.78, with the Price to Sales ratio for HD stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 187.65, with the Price to Cash per share for the same quarter was set at 13.75. Price to Free Cash Flow for HD in the course of the last twelve months was 24.09 with Quick ratio for the last quarter at 0.70.

How has HD stock performed recently?

The Home Depot Inc. [HD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.78. With this latest performance, HD shares gained by 1.04% in over the last four-week period, additionally plugging by 3.98% over the last 6 months – not to mention a rise of 19.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HD stock in for the last two-week period is set at 47.98, with the RSI for the last a single of trading hit 47.28, and the three-weeks RSI is set at 47.93 for The Home Depot Inc. [HD]. The present Moving Average for the last 50 days of trading for this stock 271.18, while it was recorded at 271.81 for the last single week of trading, and 258.86 for the last 200 days.

The Home Depot Inc. [HD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Home Depot Inc. [HD] shares currently have an operating margin of +14.37 and a Gross Margin at +32.28. The Home Depot Inc.’s Net Margin is presently recorded at +10.20.

Return on Total Capital for HD is now 51.45, given the latest momentum, and Return on Invested Capital for the company is 40.48. Additionally, HD Total Debt to Total Capital is recorded at 109.09, with Total Debt to Total Assets ending up at 72.95.

Reflecting on the efficiency of the workforce at the company, The Home Depot Inc. [HD] managed to generate an average of $27,044 per employee. Receivables Turnover for the company is 54.54 with a Total Asset Turnover recorded at a value of 2.31.The Home Depot Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.40.

Earnings analysis for The Home Depot Inc. [HD]

With the latest financial reports released by the company, The Home Depot Inc. posted 2.28/share EPS, while the average EPS was predicted by analysts to be reported at 2.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Home Depot Inc. go to 8.41%.

Insider trade positions for The Home Depot Inc. [HD]

There are presently around $199,367 million, or 71.60% of HD stock, in the hands of institutional investors. The top three institutional holders of HD stocks are: VANGUARD GROUP INC with ownership of 90,546,232, which is approximately -1.094% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 72,511,974 shares of the stock with an approximate value of $19.46 billion in HD stocks shares; and STATE STREET CORP, currently with $13.8 billion in HD stock with ownership of nearly -0.929% of the company’s market capitalization.

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Positions in The Home Depot Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 1,191 institutional holders increased their position in The Home Depot Inc. [NYSE:HD] by around 20,214,134 shares. Additionally, 1,228 investors decreased positions by around 22,770,349 shares, while 297 investors held positions by with 699,978,588 shares. The mentioned changes placed institutional holdings at 742,963,071 shares, according to the latest SEC report filing. HD stock had 111 new institutional investments in for a total of 1,664,341 shares, while 63 institutional investors sold positions of 3,189,334 shares during the same period.

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