Home Depot (NYSE:HD) Coverage Initiated by Analysts at Melius Research

Equities researchers at Melius Research began coverage on shares of Home Depot (NYSE:HD) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “buy” rating and a $420.00 price target on the home improvement retailer’s stock. Melius Research’s price target points to a potential upside of 7.38% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on HD. Truist Financial lowered their price objective on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Evercore ISI dropped their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Stifel Nicolaus dropped their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $390.28.

Home Depot Price Performance

HD traded up $1.28 on Monday, hitting $391.14. 987,433 shares of the company’s stock were exchanged, compared to its average volume of 3,388,285. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market cap of $387.86 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.57 and a beta of 1.00. The firm has a 50-day moving average price of $364.95 and a 200-day moving average price of $354.12. 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 announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 EPS. Home Depot’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Home Depot will post 15.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Fairway Wealth LLC bought a new position in Home Depot during the second quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in Home Depot in the 1st quarter valued at about $38,000. Finally, Burkett Financial Services LLC acquired a new stake in Home Depot during the fourth quarter valued at approximately $38,000. 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.