Melius Research Begins Coverage on Home Depot (NYSE:HD)

Research analysts at Melius Research assumed coverage on shares of Home Depot (NYSE:HD) in a research note issued to 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 would suggest a potential upside of 7.38% from the stock’s current price.

Several other brokerages have also issued reports on HD. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus decreased their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $390.28.

Home Depot Stock Up 0.3 %

NYSE:HD traded up $1.28 during trading hours on Monday, reaching $391.14. The company had a trading volume of 987,433 shares, compared to its average volume of 3,388,285. The firm 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 business’s 50-day simple moving average is $364.95 and its two-hundred day simple moving average is $354.12. 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 twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last posted 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that Home Depot will post 15.01 earnings per share for the current year.

Hedge Funds Weigh In On Home Depot

Large investors have recently made changes to their positions in the company. Empirical Finance LLC raised its holdings in shares of Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in 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 during the period. Leeward Financial Partners LLC boosted its position in Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock valued at $4,001,000 after acquiring an additional 711 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at $88,708,000. Finally, Johnson & White Wealth Management LLC raised its position in shares of Home Depot by 6.2% in the 1st quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock worth $1,611,000 after acquiring an additional 247 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.