Home Depot (NYSE:HD) Price Target Raised to $420.00

Home Depot (NYSE:HD) had its price objective upped by Barclays from $372.00 to $420.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

HD has been the topic of several other reports. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Royal Bank of Canada decreased their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Truist Financial boosted their price objective on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Finally, TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $415.26.

Home Depot Trading Up 1.2 %

Shares of HD stock opened at $400.21 on Tuesday. Home Depot has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. The firm’s 50 day moving average price is $393.49 and its two-hundred day moving average price is $362.92. The stock has a market cap of $397.53 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. 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 (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The firm 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 revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 EPS. On average, analysts anticipate that Home Depot will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Institutional Trading of Home Depot

Several hedge funds have recently bought and sold shares of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter worth $40,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot in the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter valued at $47,000. 70.86% of the stock is currently owned by institutional investors.

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.