Guggenheim Reaffirms “Buy” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $450.00 target price on the home improvement retailer’s stock. Guggenheim’s price target indicates a potential upside of 22.97% from the company’s previous close.

Other research analysts also recently issued reports about the company. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday. Morgan Stanley increased their target price on Home Depot from $410.00 to $415.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Stock Down 1.3%

NYSE HD opened at $365.95 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $363.77 billion, a P/E ratio of 24.86, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a one year low of $323.77 and a one year high of $439.37. The stock has a 50 day moving average price of $359.62 and a 200-day moving average price of $387.46.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.63 earnings per share. As a group, equities analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in HD. K.J. Harrison & Partners Inc raised its holdings in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the fourth quarter valued at about $409,000. JPL Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $3,193,000. Finally, Umpqua Bank raised its holdings in shares of Home Depot by 26.5% in the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock valued at $2,425,000 after acquiring an additional 1,294 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.