Home Depot (NYSE:HD) Upgraded to Outperform at Telsey Advisory Group

Telsey Advisory Group upgraded shares of Home Depot (NYSE:HD) from a market perform rating to an outperform rating in a research report released on Friday, Marketbeat.com reports. Telsey Advisory Group currently has $455.00 price target on the home improvement retailer’s stock, up from their previous price target of $360.00.

A number of other equities research analysts have also recently commented on HD. Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Finally, DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $420.04.

Home Depot Trading Up 1.6 %

Shares of NYSE HD traded up $6.46 during trading on Friday, reaching $405.90. The company had a trading volume of 3,448,699 shares, compared to its average volume of 3,078,940. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company’s fifty day moving average price is $395.19 and its 200-day moving average price is $363.84. Home Depot has a 12 month low of $286.79 and a 12 month high of $421.56. The stock has a market cap of $403.18 billion, a P/E ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 earnings per share. As a group, research analysts expect that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.57%.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter worth $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.