Home Depot (NYSE:HD) Shares Up 2.3% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares traded up 2.3% on Thursday after Truist Financial raised their price target on the stock from $455.00 to $459.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $397.52 and last traded at $397.43. 744,519 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,353,199 shares. The stock had previously closed at $388.37.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Oppenheimer boosted their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Guggenheim raised their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $416.52.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the 2nd quarter valued at about $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the second quarter worth about $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

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 firm has a market capitalization of $394.31 billion, a P/E ratio of 26.74, a PEG ratio of 2.74 and a beta of 1.01. The company’s 50 day moving average price is $393.80 and its 200 day moving average price is $363.10.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.27%. Home Depot’s dividend payout ratio is currently 60.57%.

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.