Home Depot (NYSE:HD) Price Target Raised to $413.00

Home Depot (NYSE:HD) had its price objective lifted by Royal Bank of Canada from $363.00 to $413.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the home improvement retailer’s stock.

A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. TD Cowen upped their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Truist Financial boosted their target price on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 1.8 %

HD opened at $410.39 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a twelve month low of $300.14 and a twelve month high of $421.56. The company has a market cap of $407.64 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01. The company has a 50-day moving average price of $396.76 and a 200 day moving average price of $365.25.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the business posted $3.81 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts expect that Home Depot will post 14.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HD. Fisher Asset Management LLC grew its stake in shares of Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. FMR LLC grew its stake in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Legal & General Group Plc increased its holdings in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Hedge funds and other 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.