Home Depot (NYSE:HD) Shares Up 1.3% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s share price shot up 1.3% during trading on Monday after TD Cowen raised their price target on the stock from $440.00 to $460.00. TD Cowen currently has a buy rating on the stock. Home Depot traded as high as $405.84 and last traded at $404.21. 437,575 shares were traded during trading, a decline of 87% from the average session volume of 3,349,338 shares. The stock had previously closed at $398.91.

A number of other research analysts also recently weighed in on HD. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Oppenheimer boosted their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $413.48.

Institutional Trading of Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vicus Capital grew its position in shares of Home Depot by 50.3% during the 1st quarter. Vicus Capital now owns 3,098 shares of the home improvement retailer’s stock worth $1,188,000 after buying an additional 1,037 shares during the period. Legend Financial Advisors Inc. increased its stake in Home Depot by 36.3% in the first quarter. Legend Financial Advisors Inc. now owns 154 shares of the home improvement retailer’s stock valued at $59,000 after purchasing an additional 41 shares in the last quarter. Fox Hill Wealth Management raised its holdings in shares of Home Depot by 23.2% during the first quarter. Fox Hill Wealth Management now owns 1,143 shares of the home improvement retailer’s stock valued at $438,000 after purchasing an additional 215 shares during the period. Foguth Wealth Management LLC. bought a new position in shares of Home Depot during the 1st quarter worth about $215,000. Finally, New Mexico Educational Retirement Board grew its stake in shares of Home Depot by 15.2% in the 1st quarter. New Mexico Educational Retirement Board now owns 60,692 shares of the home improvement retailer’s stock valued at $23,281,000 after buying an additional 8,000 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.4 %

The business has a 50 day moving average of $389.81 and a two-hundred day moving average of $360.04. The firm has a market capitalization of $401.29 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 2.78 and a beta of 1.00. 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 (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the firm posted $4.65 EPS. Home Depot’s revenue was up .6% compared to the same quarter last year. Equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced 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. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

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.