Home Depot (NYSE:HD) Shares Up 0.5% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 0.5% during trading on Monday after Truist Financial raised their price target on the stock from $395.00 to $455.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $414.15 and last traded at $413.78. 294,867 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,373,848 shares. The stock had previously closed at $411.90.

Several other research firms also recently weighed in on HD. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Oppenheimer lifted their target price on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the stock. Wulff Hansen & CO. grew its holdings in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of Home Depot in the first quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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. Swedbank AB purchased a new stake in Home Depot in the 1st quarter valued at about $301,364,000. Finally, Jennison Associates LLC increased its position in Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.9 %

The firm has a market capitalization of $412.27 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a 50-day moving average of $379.66 and a two-hundred day moving average of $357.15.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.16%. Home Depot’s payout ratio is 60.36%.

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.