TD Cowen Boosts Home Depot (NYSE:HD) Price Target to $460.00

Home Depot (NYSE:HD) had its price target upped by equities research analysts at TD Cowen from $440.00 to $460.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. TD Cowen’s price target points to a potential upside of 16.43% from the company’s previous close.

A number of other research analysts also recently commented on HD. Jefferies Financial Group assumed coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Oppenheimer increased their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Guggenheim increased their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Price Performance

Shares of HD opened at $395.10 on Monday. Home Depot has a twelve month low of $276.96 and a twelve month high of $421.56. The firm’s fifty day simple moving average is $391.17 and its 200-day simple moving average is $360.80. The firm has a market capitalization of $391.79 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.78 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 announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. Equities analysts forecast that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc raised its position in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares during the last quarter. Empirical Finance LLC raised its position in Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after acquiring an additional 1,195 shares during the last quarter. Pegasus Asset Management Inc. grew its holdings in shares of Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares in the last quarter. Commonwealth Retirement Investments LLC grew its holdings in shares of Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares in the last quarter. 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.