Home Depot (NYSE:HD) Lifted to “Buy” at Loop Capital

Home Depot (NYSE:HD) was upgraded by equities researchers at Loop Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $460.00 target price on the home improvement retailer’s stock, up from their previous target price of $360.00. Loop Capital’s price objective suggests a potential upside of 11.05% from the company’s current price.

Several other research analysts have also recently issued reports on HD. Evercore ISI cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $402.38.

Home Depot Stock Up 1.5 %

Shares of NYSE:HD opened at $414.23 on Wednesday. The stock has a market cap of $410.76 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.71 and a beta of 1.00. 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 12-month low of $274.26 and a 12-month high of $415.29. The business’s 50 day moving average is $374.21 and its 200 day moving average is $356.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.65 earnings per share. On average, sell-side analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Advocate Group LLC lifted its position in Home Depot by 4.5% during the third quarter. Advocate Group LLC now owns 20,525 shares of the home improvement retailer’s stock valued at $8,317,000 after purchasing an additional 881 shares in the last quarter. Cypress Wealth Services LLC lifted its position in Home Depot by 6.0% during the third quarter. Cypress Wealth Services LLC now owns 1,563 shares of the home improvement retailer’s stock valued at $633,000 after purchasing an additional 88 shares in the last quarter. Northstar Group Inc. lifted its position in Home Depot by 2.1% during the third quarter. Northstar Group Inc. now owns 6,191 shares of the home improvement retailer’s stock valued at $2,509,000 after purchasing an additional 130 shares in the last quarter. Morton Capital Management LLC CA lifted its position in Home Depot by 7.6% during the third quarter. Morton Capital Management LLC CA now owns 3,458 shares of the home improvement retailer’s stock valued at $1,401,000 after purchasing an additional 244 shares in the last quarter. Finally, Atlas Private Wealth Advisors lifted its position in Home Depot by 0.5% during the third quarter. Atlas Private Wealth Advisors now owns 8,002 shares of the home improvement retailer’s stock valued at $3,242,000 after purchasing an additional 39 shares in the last quarter. 70.86% of the stock is currently 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.