Home Depot (NYSE:HD) Coverage Initiated at Sanford C. Bernstein

Analysts at Sanford C. Bernstein began coverage on shares of Home Depot (NYSE:HD) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “market perform” rating and a $451.00 price target on the home improvement retailer’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 12.85% from the stock’s current price.

HD has been the topic of a number of other research reports. Stifel Nicolaus decreased their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Royal Bank of Canada dropped their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Stock Performance

Shares of Home Depot stock opened at $399.64 on Tuesday. 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 company has a market cap of $396.29 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a 50 day moving average of $388.23 and a 200-day moving average of $359.43. Home Depot has a 1-year low of $274.26 and a 1-year high of $421.56.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Empirical Finance LLC boosted its stake in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares during the last quarter. Pegasus Asset Management Inc. increased its holdings in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares in the last quarter. Commonwealth Retirement Investments LLC increased its holdings in Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

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.