Home Depot (NYSE:HD) Given New $455.00 Price Target at Truist Financial

Home Depot (NYSE:HD) had its price target increased by Truist Financial from $395.00 to $455.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other analysts have also weighed in on HD. DA Davidson upped their target price on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. Finally, Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Trading Down 0.7 %

Shares of NYSE HD opened at $415.75 on Monday. The business’s 50 day moving average is $383.77 and its two-hundred day moving average is $358.20. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. Home Depot has a 1-year low of $274.26 and a 1-year high of $421.56. The stock has a market capitalization of $412.26 billion, a P/E ratio of 27.88, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. As a group, research analysts expect that Home Depot will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HD. Abacus Wealth Partners LLC lifted its holdings in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. raised its position in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC raised its position in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC raised its position in Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the period. 70.86% of the stock is currently 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.