Royal Bank of Canada Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price increased by equities research analysts at Royal Bank of Canada from $363.00 to $413.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 2.44% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Cowen increased their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Evercore ISI cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $422.81.

Home Depot Trading Down 1.3 %

NYSE:HD opened at $403.17 on Monday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. Home Depot has a one year low of $287.24 and a one year high of $421.56. The company has a market cap of $400.46 billion, a PE ratio of 27.33, a PEG ratio of 2.81 and a beta of 1.01. The firm has a 50-day moving average of $395.99 and a 200-day moving average of $364.77.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company posted $4.65 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Trading of Home Depot

A number of institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Wulff Hansen & CO. lifted its stake in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Swedbank AB purchased a new position in shares of Home Depot during the 1st quarter valued at $301,364,000. Finally, Sarasin & Partners LLP increased its holdings in shares of Home Depot by 95.2% in the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after purchasing an additional 556,053 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

About Home Depot

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.