The Home Depot, Inc. (NYSE:HD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Home Depot, Inc. (NYSE:HD) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $398.54.

A number of research firms have weighed in on HD. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday. Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Finally, Loop Capital raised their price objective on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th.

Home Depot Price Performance

Shares of HD opened at $408.36 on Friday. Home Depot has a 52-week low of $274.26 and a 52-week high of $412.97. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The business’s 50 day moving average price is $373.28 and its two-hundred day moving average price is $356.23. The firm has a market cap of $404.94 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s payout ratio is 60.36%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently modified their holdings of HD. Handelsbanken Fonder AB grew its stake in Home Depot by 0.9% during the third quarter. Handelsbanken Fonder AB now owns 345,516 shares of the home improvement retailer’s stock valued at $140,003,000 after acquiring an additional 3,092 shares in the last quarter. waypoint wealth counsel grew its stake in Home Depot by 6.5% during the third quarter. waypoint wealth counsel now owns 2,588 shares of the home improvement retailer’s stock valued at $1,049,000 after acquiring an additional 159 shares in the last quarter. Wright Investors Service Inc. grew its stake in Home Depot by 1.3% during the third quarter. Wright Investors Service Inc. now owns 25,248 shares of the home improvement retailer’s stock valued at $10,231,000 after acquiring an additional 315 shares in the last quarter. Cullen Investment Group LTD. grew its stake in Home Depot by 1.5% during the third quarter. Cullen Investment Group LTD. now owns 19,557 shares of the home improvement retailer’s stock valued at $7,925,000 after acquiring an additional 297 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC grew its stake in Home Depot by 10.8% during the third quarter. Inspirion Wealth Advisors LLC now owns 1,029 shares of the home improvement retailer’s stock valued at $417,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other 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.