Home Depot (NYSE:HD) Trading Up 0.5% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shot up 0.5% during trading on Monday after Truist Financial raised their price target on the stock from $395.00 to $455.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $414.15 and last traded at $413.78. 294,867 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,373,848 shares. The stock had previously closed at $411.90.

HD has been the topic of a number of other reports. DA Davidson raised their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Guggenheim increased their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in HD. Iams Wealth Management LLC lifted its stake in shares of Home Depot by 0.6% in the third quarter. Iams Wealth Management LLC now owns 5,126 shares of the home improvement retailer’s stock valued at $2,078,000 after purchasing an additional 31 shares during the period. Creative Planning increased its holdings in Home Depot by 7.0% in the third quarter. Creative Planning now owns 513,327 shares of the home improvement retailer’s stock valued at $199,295,000 after buying an additional 33,703 shares in the last quarter. CX Institutional lifted its position in shares of Home Depot by 225.6% during the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after acquiring an additional 22,668 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Home Depot by 9.1% during the 3rd quarter. Sivia Capital Partners LLC now owns 2,414 shares of the home improvement retailer’s stock worth $978,000 after acquiring an additional 202 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its holdings in shares of Home Depot by 13.7% in the 3rd quarter. Fiduciary Alliance LLC now owns 39,521 shares of the home improvement retailer’s stock worth $16,014,000 after acquiring an additional 4,770 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

The firm has a 50 day moving average of $378.34 and a two-hundred day moving average of $356.92. The stock has a market capitalization of $410.31 billion, a PE ratio of 27.75, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.