Home Depot (NYSE:HD) Price Target Raised to $459.00

by · The Cerbat Gem

Home Depot (NYSE:HD – Free Report) had its price objective lifted by Truist Financial from $455.00 to $459.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

Several other research analysts also recently commented on HD. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. Barclays upped their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus decreased their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $420.04.

View Our Latest Research Report on HD

Home Depot Price Performance

Shares of NYSE HD traded up $6.46 during mid-day trading on Thursday, reaching $405.90. 3,448,699 shares of the company were exchanged, compared to its average volume of 3,078,940. Home Depot has a 52 week low of $286.79 and a 52 week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock has a market capitalization of $403.18 billion, a PE ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The company’s 50 day moving average price is $395.19 and its 200 day moving average price is $363.84.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Sell-side analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently modified their holdings of the stock. Tradewinds LLC. boosted its holdings in Home Depot by 9.6% in the third quarter. Tradewinds LLC. now owns 2,025 shares of the home improvement retailer’s stock worth $821,000 after acquiring an additional 178 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Home Depot by 0.3% in the third quarter. King Luther Capital Management Corp now owns 1,237,475 shares of the home improvement retailer’s stock worth $501,425,000 after acquiring an additional 4,110 shares during the last quarter. Cornerstone Advisors LLC boosted its stake in Home Depot by 37.4% during the third quarter. Cornerstone Advisors LLC now owns 58,800 shares of the home improvement retailer’s stock worth $23,826,000 after buying an additional 16,000 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Home Depot by 8.3% in the third quarter. Citizens Financial Group Inc. RI now owns 100,695 shares of the home improvement retailer’s stock valued at $40,801,000 after purchasing an additional 7,712 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Home Depot by 0.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 29,316 shares of the home improvement retailer’s stock valued at $11,879,000 after buying an additional 259 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

(Get Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

Read More