Home Depot (NYSE:HD) Shares Up 0.5% on Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) shot up 0.5% 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 were traded 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.

A number of other brokerages also recently weighed in on HD. Oppenheimer raised their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. 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 MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Institutional Trading of Home Depot

Several institutional investors have recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the first quarter worth approximately $38,000. Denver PWM LLC acquired a new stake in Home Depot during the second quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC grew its position in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

The stock has a fifty day simple moving average of $380.90 and a two-hundred day simple moving average of $357.37. The stock has a market cap of $412.35 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

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 the consensus estimate 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 analyst estimates of $42.57 billion. During the same period last year, the company earned $4.65 EPS. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

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