Home Depot (NYSE:HD) Sets New 1-Year High Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) hit 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 trading hands. The stock had previously closed at $391.96.

Several other equities analysts also recently issued reports on HD. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada dropped their price objective 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. Loop Capital boosted their target price on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Finally, DA Davidson lifted their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. 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 stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $391.88.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter worth about $33,000. Burkett Financial Services LLC bought a new position in shares of Home Depot during the fourth quarter worth about $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot in the 1st quarter valued at approximately $38,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 1.4 %

The firm has a market cap of $394.31 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.57 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business has a 50-day moving average of $365.62 and a 200-day moving average of $354.23.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping 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%. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $4.65 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

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

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.