Truist Financial Increases Home Depot (NYSE:HD) Price Target to $459.00

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

Other equities analysts have also recently issued research reports about the company. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. DA Davidson raised their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. UBS Group raised their price objective 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. Finally, Stifel Nicolaus cut their price objective 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 research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Stock Up 1.6 %

Shares of NYSE:HD opened at $405.90 on Thursday. The company has a 50 day moving average price of $395.19 and a two-hundred day moving average price of $364.23. 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 company has a market capitalization of $403.18 billion, a PE ratio of 27.31, a PEG ratio of 2.81 and a beta of 1.01. Home Depot has a 52 week low of $286.79 and a 52 week high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings data 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. The business had revenue of $43.18 billion during 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. Analysts forecast that Home Depot will post 15.01 earnings per share for the current 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 dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

Institutional Trading of Home Depot

A number of hedge funds have recently made changes to their positions in the business. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after purchasing an additional 5,879 shares during the last quarter. Empirical Finance LLC raised its holdings in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after acquiring an additional 1,195 shares during the period. Pegasus Asset Management Inc. lifted its position in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after acquiring an additional 86 shares during the last quarter. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. Finally, LGT Group Foundation boosted its holdings in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after acquiring an additional 147,482 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.