Home Depot (NYSE:HD) Hits New 12-Month High on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s stock price reached a new 52-week high on Tuesday after Oppenheimer raised their price target on the stock from $345.00 to $400.00. Oppenheimer currently has a market perform rating on the stock. Home Depot traded as high as $398.28 and last traded at $397.08, with a volume of 351081 shares changing hands. The stock had previously closed at $391.96.

A number of other research analysts have also recently commented on HD. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Loop Capital lifted their price target on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. DA Davidson lifted their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Truist Financial cut their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $391.88.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in HD. Ruedi Wealth Management Inc. increased its position in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares in the last quarter. Acorn Creek Capital LLC grew 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 valued at $291,000 after purchasing an additional 28 shares during the period. STAR Financial Bank increased its position in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after buying an additional 29 shares in the last quarter. Talisman Wealth Advisors LLC lifted its holdings in Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares in the last quarter. Finally, LMG Wealth Partners LLC lifted its stake in shares of Home Depot by 1.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.4 %

The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company has a market capitalization of $394.31 billion, a PE ratio of 26.29, a PEG ratio of 2.57 and a beta of 1.00. The stock has a fifty day moving average of $365.62 and a 200 day moving average of $354.23.

Home Depot (NYSE:HD) last issued 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. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

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.