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

Home Depot (NYSE:HD) had its price objective lifted by Evercore ISI from $420.00 to $430.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the home improvement retailer’s stock.

Other research analysts also recently issued reports about the company. Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Bank of America raised their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

Shares of HD opened at $409.76 on Wednesday. The firm has a market cap of $407.01 billion, a P/E ratio of 27.88, a PEG ratio of 2.79 and a beta of 1.01. Home Depot has a twelve month low of $302.34 and a twelve month high of $421.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The firm’s 50 day moving average price is $397.67 and its two-hundred day moving average price is $365.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.81 EPS. On average, analysts forecast that Home Depot will post 14.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Home Depot in the third quarter worth $336,231,000. Finally, FMR LLC raised its stake in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. 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.