Home Depot’s (HD) Buy Rating Reaffirmed at Guggenheim

Home Depot (NYSE:HD)‘s stock had its “buy” rating reiterated by Guggenheim in a research note issued on Wednesday,Benzinga reports. They presently have a $450.00 price target on the home improvement retailer’s stock. Guggenheim’s target price would suggest a potential upside of 13.07% from the company’s previous close.

A number of other analysts have also issued reports on HD. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Bank of America lifted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the company from $356.00 to $410.00 in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $437.12.

Home Depot Price Performance

Shares of HD stock traded up $4.69 on Wednesday, reaching $397.98. The company’s stock had a trading volume of 1,486,926 shares, compared to its average volume of 3,203,814. The company has a market capitalization of $395.34 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock’s fifty day simple moving average is $401.23 and its 200-day simple moving average is $398.48. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP raised its position in shares of 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 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.