Oppenheimer Boosts Home Depot (NYSE:HD) Price Target to $400.00

Home Depot (NYSE:HD) had its price objective hoisted by stock analysts at Oppenheimer from $345.00 to $400.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the home improvement retailer’s stock. Oppenheimer’s price target suggests a potential upside of 2.05% from the stock’s current price.

Several other research analysts have also commented on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada cut their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $391.88.

Home Depot Trading Up 0.5 %

HD stock opened at $391.96 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a market cap of $388.67 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.57 and a beta of 1.00. The business has a fifty day simple moving average of $365.62 and a 200-day simple moving average of $354.23. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during 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%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 earnings per share. On average, equities research analysts expect that Home Depot will post 15.01 EPS for the current year.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in Home Depot during the 2nd quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $27,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the 1st quarter worth about $38,000. Finally, Burkett Financial Services LLC bought a new stake in Home Depot in the 4th quarter valued at about $38,000. 70.86% of the stock is currently owned by 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.