Share on StockTwits

The Home Depot (NYSE:HD) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Analyst Ratings Network.com reports. The firm currently has a $90.00 target price on the stock, up from their previous target price of $82.00. BMO Capital Markets’ price target points to a potential upside of 15.82% from the stock’s previous close.

Shares of The Home Depot (NYSE:HD) opened at 77.71 on Thursday. The Home Depot has a 52-week low of $72.21 and a 52-week high of $83.20. The stock’s 50-day moving average is $78.38 and its 200-day moving average is $78.9. The company has a market cap of $107.3 billion and a price-to-earnings ratio of 20.49. The Home Depot also was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 10,540,243 shares, a decline of 37.1% from the March 31st total of 16,752,334 shares. Based on an average daily trading volume, of 7,460,716 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.8% of the shares of the stock are sold short.

The Home Depot (NYSE:HD) last released its earnings data on Tuesday, February 25th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.02. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $17.92 billion. On average, analysts predict that The Home Depot will post $4.43 earnings per share for the current fiscal year.

A number of other firms have also recently commented on HD. Analysts at Ameriprise Financial initiated coverage on shares of The Home Depot in a research note on Tuesday, April 1st. They set a “buy” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of The Home Depot from $86.00 to $93.00 in a research note on Friday, March 14th. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of The Home Depot in a research note on Thursday, March 6th. They now have a $78.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.11.

The Home Depot, Inc (NYSE:HD) is a home improvement retailer.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.