Home Depot (NYSE:HD) Upgraded at KGI Securities

KGI Securities upgraded shares of Home Depot (NYSE:HD) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on HD. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. 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 research note on Wednesday, November 13th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong 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 target price of $436.50.

Home Depot Price Performance

Shares of Home Depot stock opened at $386.82 on Monday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm’s 50-day simple moving average is $400.81 and its 200-day simple moving average is $399.62. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $384.25 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for 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 revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. As a group, research analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Home Depot during the fourth quarter worth $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot during the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Northern Trust Corp boosted its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Home Depot during the fourth quarter worth $471,189,000. Institutional investors and hedge funds 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.