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

Home Depot (NYSE:HD) had its target price boosted by Wells Fargo & Company from $400.00 to $430.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

Other equities research analysts have also issued research reports about the company. UBS Group increased their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Evercore ISI decreased their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein assumed coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Price Performance

Shares of Home Depot stock traded up $6.46 during trading on Wednesday, reaching $405.90. The company’s stock had a trading volume of 3,448,699 shares, compared to its average volume of 3,078,940. The company has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. Home Depot has a 12-month low of $286.79 and a 12-month high of $421.56. The business has a 50 day moving average price of $395.19 and a 200-day moving average price of $363.84. 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 released 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. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company 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 firm posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Home Depot will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.57%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently modified their holdings of HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the second quarter worth about $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter worth about $46,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

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.