Home Depot (NYSE:HD) Price Target Raised to $450.00

Home Depot (NYSE:HD) had its price objective lifted by equities researchers at Bank of America from $425.00 to $450.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price objective suggests a potential upside of 11.62% from the stock’s current price.

A number of other research firms have also commented on HD. Truist Financial lifted their price target on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $424.67.

Home Depot Price Performance

Shares of HD opened at $403.17 on Wednesday. The firm has a market cap of $400.46 billion, a PE ratio of 27.13, a PEG ratio of 2.83 and a beta of 1.01. The firm’s 50 day moving average price is $396.76 and its 200 day moving average price is $365.25. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. Home Depot has a twelve month low of $287.24 and a twelve month high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Home Depot will post 14.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Abacus Wealth Partners LLC raised its position in shares of 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 purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $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 buying an additional 26 shares in the last quarter. Ruedi Wealth Management Inc. grew its holdings in Home Depot by 1.2% during the second 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 in the last quarter. Finally, Acorn Creek Capital LLC grew its holdings in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.