Guggenheim Increases Home Depot (NYSE:HD) Price Target to $450.00

Home Depot (NYSE:HD) had its price objective upped by investment analysts at Guggenheim from $390.00 to $450.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Guggenheim’s price target suggests a potential upside of 10.47% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Loop Capital upped their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Stifel Nicolaus reduced their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Evercore ISI dropped their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $398.54.

Home Depot Price Performance

Shares of Home Depot stock traded down $4.24 during trading on Friday, reaching $407.34. The company’s stock had a trading volume of 2,191,251 shares, compared to its average volume of 3,383,236. The stock has a 50-day moving average price of $372.30 and a two-hundred day moving average price of $356.14. The stock has a market capitalization of $403.92 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 2.71 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 has a one year low of $274.26 and a one year high of $412.97.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) 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 net margin of 9.71% and a return on equity of 681.27%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $4.65 earnings per share. As a group, sell-side analysts anticipate that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently added to or reduced their stakes in HD. Fisher Asset Management LLC lifted its position in Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares during the period. Legal & General Group Plc lifted its holdings in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after acquiring an additional 138,396 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares in the last quarter. Institutional investors and hedge funds 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.