Home Depot (NYSE:HD) Trading Up 0.5% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shot up 0.5% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $395.00 to $455.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $414.15 and last traded at $413.78. 294,867 shares changed hands during trading, a decline of 91% from the average session volume of 3,373,848 shares. The stock had previously closed at $411.90.

Other equities analysts also recently issued reports about the stock. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Wednesday, October 2nd. Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Institutional Trading of Home Depot

Hedge funds have recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new position in Home Depot in the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot in the 1st quarter valued at about $38,000. Livelsberger Financial Advisory acquired a new position in Home Depot in the 4th quarter valued at about $39,000. Finally, Denver PWM LLC acquired a new position in Home Depot in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.9 %

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 stock has a market cap of $412.27 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.88 and a beta of 1.00. The stock’s fifty day simple moving average is $379.66 and its 200-day simple moving average is $357.15.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. Home Depot’s payout ratio is 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.