Home Depot (NYSE:HD) Trading 1.3% Higher After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares rose 1.3% on Monday after Royal Bank of Canada raised their price target on the stock from $363.00 to $413.00. Royal Bank of Canada currently has a sector perform rating on the stock. Home Depot traded as high as $411.49 and last traded at $411.15. Approximately 657,699 shares were traded during trading, a decline of 80% from the average daily volume of 3,357,687 shares. The stock had previously closed at $405.90.

Several other brokerages also recently weighed in on HD. DA Davidson lifted their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley upped their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. Truist Financial increased their price objective on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.81.

Institutional Trading of Home Depot

A number of hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC bought a new position in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC acquired a new stake in Home Depot in the second quarter valued at approximately $40,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the 2nd quarter worth $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.3 %

The company’s 50 day moving average price is $395.99 and its 200 day moving average price is $364.77. 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 cap of $400.46 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS 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 return on equity of 733.61% and a net margin of 9.71%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current 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 $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.23%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.