Home Depot (NYSE:HD) Upgraded by Hsbc Global Res to “Hold” Rating

Hsbc Global Res upgraded shares of Home Depot (NYSE:HD) from a moderate sell rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

HD has been the subject of several other reports. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday. Barclays upped their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Down 0.7 %

NYSE:HD opened at $390.40 on Wednesday. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock’s 50 day simple moving average is $401.17 and its 200-day simple moving average is $398.42. The firm has a market cap of $387.81 billion, a P/E ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $2.82 EPS. Equities analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s payout ratio is presently 61.14%.

Institutional Investors Weigh In On Home Depot

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank acquired a new stake in shares of Home Depot during the fourth quarter worth $5,032,910,000. Capital Research Global Investors grew its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp increased its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.