Home Depot (NYSE:HD) Upgraded at HSBC

HSBC upgraded shares of Home Depot (NYSE:HD) from a reduce rating to a hold rating in a research report report published on Wednesday morning, Marketbeat.com reports. HSBC currently has $410.00 target price on the home improvement retailer’s stock, up from their previous target price of $356.00.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

Shares of NYSE:HD opened at $396.69 on Wednesday. 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 $394.06 billion, a PE ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a 50-day moving average price of $401.36 and a two-hundred day moving average price of $398.72.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $2.82 earnings per share. Equities analysts forecast that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.32%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter valued at $28,000. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP boosted its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.