Home Depot (NYSE:HD) Given New $450.00 Price Target at Morgan Stanley

Home Depot (NYSE:HD) had its price objective lifted by Morgan Stanley from $380.00 to $450.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Royal Bank of Canada dropped their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Guggenheim increased their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group raised their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial upped their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group started coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. One equities 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, the company presently has an average rating of “Moderate Buy” and an average price target of $409.12.

Home Depot Price Performance

Shares of Home Depot stock opened at $406.52 on Monday. 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 firm has a market cap of $403.11 billion, a PE ratio of 27.26, a P/E/G ratio of 2.88 and a beta of 1.00. The business has a 50-day moving average price of $386.31 and a 200 day moving average price of $358.83. Home Depot has a twelve month low of $274.26 and a twelve month high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 EPS. Sell-side analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Institutional Trading of Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Wulff Hansen & CO. grew its holdings in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the 1st quarter worth approximately $513,016,000. Price T Rowe Associates Inc. MD lifted its stake in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Swedbank AB acquired a new stake in Home Depot during the 1st quarter valued at $301,364,000. Finally, Jennison Associates LLC increased 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 worth $1,886,271,000 after buying an additional 569,690 shares in the last quarter. 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.