Home Depot (NYSE:HD) Price Target Raised to $465.00

Home Depot (NYSE:HD) had its target price raised by Truist Financial from $459.00 to $465.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other brokerages have also commented on HD. UBS Group upped their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.6 %

NYSE:HD opened at $408.18 on Wednesday. The company has a market cap of $405.44 billion, a PE ratio of 27.73, a PEG ratio of 2.83 and a beta of 1.01. Home Depot has a 52-week low of $302.34 and a 52-week high of $421.56. The stock has a 50-day simple moving average of $399.51 and a 200 day simple moving average of $366.34. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Home Depot will post 15.06 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. boosted its position in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Swedbank AB boosted its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the period. LGT Group Foundation increased its holdings in Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after acquiring an additional 147,482 shares during the period. Finally, CX Institutional lifted its stake in Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after purchasing an additional 22,668 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.