Home Depot Received its Third Buy in a Row

By Austin Angelo

After Deutsche Bank and Oppenheimer assigned a Buy rating to Home Depot in the last month, the company received another Buy, this time from UBS. Analyst Michael Lasser reiterated a Buy rating on Home Depot (NYSE: HD) yesterday and set a price target of $145. The company’s shares closed yesterday at $124.40.

According to TipRanks.com, Lasser is a 4-star analyst with an average return of 5.0% and a 55.8% success rate. Lasser covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Bed Bath & Beyond.

Currently, the analyst consensus on Home Depot is Strong Buy and the average price target is $148.22, representing a 19.1% upside.

In a report issued on October 31, Oppenheimer also assigned a Buy rating to the stock with a $140 price target.

Based on Home Depot’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $23.15 billion and quarterly net profit of $1.97 billion. In comparison, last year the company earned revenue of $21.82 billion and had a net profit of $1.73 billion.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HD in relation to earlier this year. Most recently, in December 2015, Timothy Crow, the EVP HR of HD sold 34,386 shares for a total of $4,596,720.