The Home Depot, Inc. (NYSE:HD) Given Average Recommendation of “Moderate Buy” by Analysts

The Home Depot, Inc. (NYSE:HD) has earned a consensus rating of “Moderate Buy” from the thirty-one analysts that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, twenty-two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $435.85.

A number of analysts have recently issued reports on HD shares. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th.

Home Depot Stock Down 1.3 %

HD stock opened at $357.86 on Friday. The firm has a market cap of $355.72 billion, a PE ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $389.98 and a 200 day simple moving average of $398.80.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. Equities research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP increased its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.