Home Depot (NYSE:HD) PT Raised to $450.00 at Morgan Stanley

Home Depot (NYSE:HD) had its price target increased by research analysts at Morgan Stanley from $380.00 to $450.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s target price indicates a potential upside of 11.05% from the stock’s previous close.

Several other analysts have also recently commented on the company. Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Oppenheimer boosted their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Royal Bank of Canada dropped their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Finally, Stifel Nicolaus dropped their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $409.12.

Home Depot Price Performance

Shares of HD stock traded down $9.78 during trading hours on Monday, hitting $405.22. 1,694,767 shares of the company’s stock were exchanged, compared to its average volume of 3,360,015. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The firm has a market cap of $401.82 billion, a P/E ratio of 27.22, a P/E/G ratio of 2.88 and a beta of 1.00. The firm has a 50 day moving average of $385.10 and a two-hundred day moving average of $358.49.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts forecast that Home Depot will post 15.01 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 buying an additional 971,833 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after buying an additional 138,396 shares during the period. Jennison Associates LLC boosted its stake in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after buying an additional 569,690 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Home Depot by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after buying an additional 333,312 shares during the period. 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.