Home Depot (NYSE:HD) Stock Price Up 1.3% Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) rose 1.3% on Monday after TD Cowen raised their price target on the stock from $440.00 to $460.00. TD Cowen currently has a buy rating on the stock. Home Depot traded as high as $405.84 and last traded at $404.21. Approximately 437,575 shares changed hands during trading, a decline of 87% from the average daily volume of 3,349,338 shares. The stock had previously closed at $398.91.

Other research analysts also recently issued research reports about the company. DA Davidson raised their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Evercore ISI reduced their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Truist Financial raised their price objective on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Roman Butler Fullerton & Co. lifted its stake in shares of Home Depot by 0.3% during the third quarter. Roman Butler Fullerton & Co. now owns 9,311 shares of the home improvement retailer’s stock valued at $3,869,000 after buying an additional 28 shares during the period. Donaldson Capital Management LLC increased its position in Home Depot by 0.8% during the third quarter. Donaldson Capital Management LLC now owns 194,624 shares of the home improvement retailer’s stock worth $78,861,000 after purchasing an additional 1,580 shares during the last quarter. Forum Financial Management LP raised its stake in Home Depot by 3.4% during the third quarter. Forum Financial Management LP now owns 14,682 shares of the home improvement retailer’s stock worth $5,949,000 after purchasing an additional 481 shares during the period. Lansing Street Advisors grew its stake in shares of Home Depot by 1.2% during the 3rd quarter. Lansing Street Advisors now owns 2,748 shares of the home improvement retailer’s stock valued at $1,113,000 after buying an additional 32 shares during the period. Finally, Westbourne Investment Advisors Inc. grew its position in Home Depot by 1.8% during the third quarter. Westbourne Investment Advisors Inc. now owns 17,220 shares of the home improvement retailer’s stock valued at $6,978,000 after acquiring an additional 302 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

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 stock’s 50-day moving average is $391.17 and its 200-day moving average is $360.80. The stock has a market cap of $391.79 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.78 and a beta of 1.00.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

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.