Home Depot (NYSE:HD) Price Target Raised to $417.00

Home Depot (NYSE:HD) had its target price hoisted by Truist Financial from $393.00 to $417.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the home improvement retailer’s stock.

A number of other research firms have also recently issued reports on HD. Morgan Stanley increased their target price on Home Depot from $410.00 to $415.00 and gave the stock an “overweight” rating in a report on Tuesday. Robert W. Baird decreased their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Price Performance

HD stock opened at $365.95 on Tuesday. The stock has a 50-day moving average price of $359.62 and a two-hundred day moving average price of $387.46. The stock has a market cap of $363.77 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (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 return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.63 EPS. Equities analysts forecast that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. Home Depot’s payout ratio is 62.42%.

Institutional Trading of Home Depot

Institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter valued at $28,000. Navigoe LLC bought a new stake in Home Depot during the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at $32,000. Finally, Abound Financial LLC bought a new stake in Home Depot during the first quarter valued at $31,000. 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.