Home Depot (HD) Received its Third Buy in a Row


After Credit Suisse and Wells Fargo gave Home Depot (NYSE: HD) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Scot Ciccarelli maintained a Buy rating on Home Depot yesterday and set a price target of $258.00. The company’s shares closed last Monday at $239.70, close to its 52-week high of $247.36.

According to TipRanks.com, Ciccarelli is a top 100 analyst with an average return of 16.3% and a 71.5% success rate. Ciccarelli covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Dick’s Sporting Goods, and Genuine Parts Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Home Depot with a $244.71 average price target, a 2.6% upside from current levels. In a report issued on February 14, Wells Fargo also maintained a Buy rating on the stock with a $265.00 price target.

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Based on Home Depot’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $27.22 billion and net profit of $2.77 billion. In comparison, last year the company earned revenue of $26.49 billion and had a net profit of $2.34 billion.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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