Home Depot (NYSE:HD) Trading 0.4% Higher After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares shot up 0.4% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $450.00 to $475.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Home Depot traded as high as $416.57 and last traded at $415.54. 303,342 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,895,219 shares. The stock had previously closed at $413.99.

Several other research analysts also recently weighed in on HD. Barclays upped their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Mizuho increased their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $428.78.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after purchasing an additional 433,126 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after acquiring an additional 125,441 shares in the last quarter. International Assets Investment Management LLC lifted its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. FMR LLC boosted its stake in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after purchasing an additional 409,890 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

The business has a 50-day moving average price of $405.88 and a 200-day moving average price of $394.98. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $412.25 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the company posted $3.81 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

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.