The Home Depot, Inc. (NYSE:HD) Given Average Rating of “Moderate Buy” by Analysts

The Home Depot, Inc. (NYSE:HD) has received a consensus rating of “Moderate Buy” from the thirty-one analysts that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $436.50.

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Truist Financial reduced their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th.

Home Depot Stock Performance

Shares of HD opened at $376.66 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $374.16 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.09. The company’s fifty day moving average is $400.21 and its two-hundred day moving average is $400.02. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Hedge Funds Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter valued at $28,000. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP lifted its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.