Home Depot (NYSE:HD) Upgraded by Gordon Haskett to “Buy”

Home Depot (NYSE:HD) was upgraded by research analysts at Gordon Haskett from an “accumulate” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, FinViz reports. The firm currently has a $450.00 target price on the home improvement retailer’s stock. Gordon Haskett’s target price points to a potential upside of 9.97% from the company’s current price.

A number of other research analysts have also recently commented on HD. Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Evercore ISI cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, Truist Financial reduced their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $396.23.

Home Depot Stock Up 1.0 %

NYSE HD opened at $409.21 on Wednesday. Home Depot has a 1 year low of $274.26 and a 1 year high of $410.56. The stock has a market capitalization of $405.78 billion, a PE ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business’s 50-day moving average is $369.92 and its 200 day moving average is $355.36.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mattson Financial Services LLC acquired a new stake in shares of Home Depot during the second quarter worth about $1,382,000. Ashburton Jersey Ltd acquired a new stake in shares of Home Depot during the 2nd quarter valued at about $8,450,000. Anchor Investment Management LLC increased its position in shares of Home Depot by 1.1% in the second quarter. Anchor Investment Management LLC now owns 19,965 shares of the home improvement retailer’s stock valued at $6,873,000 after buying an additional 223 shares in the last quarter. Verity & Verity LLC raised its position in Home Depot by 1.5% during the second quarter. Verity & Verity LLC now owns 17,476 shares of the home improvement retailer’s stock worth $6,016,000 after acquiring an additional 251 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Home Depot by 43.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,215 shares of the home improvement retailer’s stock worth $2,139,000 after purchasing an additional 1,892 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.