Home Depot (NYSE:HD) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Home Depot (NYSE:HD) in a report issued on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $455.00 price objective on the home improvement retailer’s stock.

Other research analysts have also recently issued research reports about the stock. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research note on Wednesday. Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays boosted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. 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 research report on Wednesday, November 13th. Finally, Truist Financial upped their target price on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

NYSE HD opened at $390.40 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $387.81 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a 50 day moving average price of $401.17 and a two-hundred day moving average price of $398.42. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s dividend payout ratio is 61.14%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the 4th quarter valued at about $28,000. Navigoe LLC bought a new stake in Home Depot during the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the 4th quarter valued at about $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in 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.