Home Depot (NYSE:HD) Shares Up 1.1% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s share price was up 1.1% during mid-day trading on Friday after Telsey Advisory Group upgraded the stock from a market perform rating to an outperform rating. Telsey Advisory Group now has a $455.00 price target on the stock, up from their previous price target of $360.00. Home Depot traded as high as $404.59 and last traded at $403.89. Approximately 667,752 shares changed hands during trading, a decline of 80% from the average daily volume of 3,357,314 shares. The stock had previously closed at $399.44.

Several other research firms also recently issued reports on HD. Evercore ISI cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus reduced their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $420.04.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Abacus Wealth Partners LLC boosted its stake in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares during the last quarter. Capital City Trust Co. FL grew its stake in Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares in the last quarter. Ruedi Wealth Management Inc. increased its position in Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Finally, Acorn Creek Capital LLC raised its stake in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

The firm has a market capitalization of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The company has a fifty day moving average price of $395.19 and a 200-day moving average price of $363.84. 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 posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

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.