Home Depot (NYSE:HD) Price Target Raised to $420.00

Home Depot (NYSE:HD) had its price objective upped by Barclays from $372.00 to $420.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Royal Bank of Canada reduced their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

Home Depot Stock Performance

HD stock traded up $3.63 during midday trading on Tuesday, reaching $403.07. 1,053,529 shares of the company’s stock traded hands, compared to its average volume of 3,359,092. Home Depot has a 52 week low of $286.79 and a 52 week high of $421.56. The company has a 50-day moving average price of $393.80 and a two-hundred day moving average price of $363.10. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $400.37 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its earnings results 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. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. As a group, equities analysts anticipate that Home Depot will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.23%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Institutional Trading of Home Depot

Several hedge funds and other institutional investors have recently modified their holdings of HD. Abacus Wealth Partners LLC grew its position in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its holdings in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after purchasing an additional 26 shares during the period. Ruedi Wealth Management Inc. boosted its holdings in shares of Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the period. Finally, Acorn Creek Capital LLC boosted its stake in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Company Profile

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.