Home Depot (NYSE:HD) Price Target Raised to $450.00

Home Depot (NYSE:HD) had its price objective upped by Bank of America from $425.00 to $450.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently commented on HD. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, DA Davidson boosted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

NYSE HD traded up $2.46 during midday trading on Wednesday, hitting $408.18. The company had a trading volume of 3,239,545 shares, compared to its average volume of 3,381,447. The company has a market capitalization of $405.44 billion, a PE ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The firm has a 50-day moving average price of $399.51 and a 200-day moving average price of $366.34. Home Depot has a twelve month low of $302.34 and a twelve month high of $421.56.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.81 EPS. As a group, analysts anticipate that Home Depot will post 15.06 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the second quarter worth $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the second quarter worth $40,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter worth $41,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Home Depot in the third quarter worth $46,000. 70.86% of the stock is owned by hedge funds and other 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.