Home Depot (NYSE:HD) Price Target Raised to $430.00

Home Depot (NYSE:HD) had its target price lifted by DA Davidson from $395.00 to $430.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

A number of other analysts have also recently weighed in on HD. Royal Bank of Canada lowered their price target on shares of Home Depot from $377.00 to $363.00 and set a sector perform rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a buy rating and a $426.00 price target on the stock. Wedbush restated an outperform rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. HSBC decreased their price target on Home Depot from $323.00 to $318.00 and set a reduce rating for the company in a research note on Wednesday, May 15th. Finally, UBS Group raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a buy rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $387.79.

Home Depot Stock Performance

Shares of HD stock opened at $361.85 on Tuesday. The company’s 50 day moving average is $356.96 and its 200 day moving average is $354.11. 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 firm has a market cap of $358.82 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.55 and a beta of 0.98. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $4.65 EPS. On average, sell-side analysts anticipate that Home Depot will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s payout ratio is 60.36%.

Hedge Funds Weigh In On Home Depot

Large investors have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the second quarter valued at approximately $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the first quarter worth approximately $38,000. Finally, Burkett Financial Services LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds 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.