Home Depot (NYSE:HD) Upgraded by Gordon Haskett to Buy

Gordon Haskett upgraded shares of Home Depot (NYSE:HD) from an accumulate rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have $450.00 price target on the home improvement retailer’s stock.

Other research analysts also recently issued research reports about the company. UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a buy rating in a report on Wednesday, August 14th. Daiwa America upgraded Home Depot to a hold rating in a report on Thursday, August 15th. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an outperform rating on the stock in a report on Wednesday, August 14th. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the company an overweight rating in a report on Monday. Finally, Truist Financial lowered their price target 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 given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of Moderate Buy and a consensus price target of $396.23.

Home Depot Stock Up 0.5 %

Shares of Home Depot stock opened at $411.19 on Wednesday. The stock’s fifty day moving average is $371.14 and its 200-day moving average is $355.75. The firm has a market capitalization of $407.74 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. Home Depot has a 12-month low of $274.26 and a 12-month high of $411.46.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 earnings per share. Equities analysts anticipate that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot during the 1st quarter worth about $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.