Home Depot (NYSE:HD) Stock Price Up 1.3% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) was up 1.3% during trading on Tuesday after Loop Capital raised their price target on the stock from $330.00 to $360.00. Loop Capital currently has a hold rating on the stock. Home Depot traded as high as $387.94 and last traded at $386.82. Approximately 645,930 shares were traded during trading, a decline of 81% from the average daily volume of 3,367,249 shares. The stock had previously closed at $382.01.

A number of other equities analysts have also recently commented on the stock. UBS Group boosted their price target 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. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus dropped their price target 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. Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $389.04.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the stock. Gilbert & Cook Inc. lifted its holdings in shares of Home Depot by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock valued at $1,475,000 after purchasing an additional 158 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in Home Depot by 4.8% in the fourth quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock worth $931,000 after acquiring an additional 122 shares in the last quarter. 9258 Wealth Management LLC grew its stake in shares of Home Depot by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock worth $4,811,000 after acquiring an additional 557 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Home Depot by 161.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock valued at $2,188,000 after acquiring an additional 3,923 shares in the last quarter. Finally, TrinityPoint Wealth LLC raised its position in shares of Home Depot by 4.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 9,840 shares of the home improvement retailer’s stock worth $3,410,000 after purchasing an additional 387 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 0.4 %

The stock’s 50 day moving average is $362.82 and its 200-day moving average is $353.92. The company has a market cap of $380.24 billion, a P/E ratio of 25.72, a PEG ratio of 2.57 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 (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 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.