After Nomura and Raymond James gave Home Depot (NYSE: HD) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Simeon Gutman maintained a Buy rating on Home Depot today and set a price target of $215.00. The company’s shares closed last Thursday at $181.06.
According to TipRanks.com, Gutman is a 2-star analyst with an average return of -0.1% and a 47.9% success rate. Gutman covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, National Vision Holdings, and Floor & Decor Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Home Depot with a $239.94 average price target, implying a 37.1% upside from current levels. In a report issued on March 18, RBC Capital also maintained a Buy rating on the stock with a $193.00 price target.
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Based on Home Depot’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $25.78 billion and net profit of $2.48 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 77 insiders, corporate insider sentiment is neutral on the stock.
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Home Depot, Inc. is a home improvement retailer, which engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.
