Home Depot (NYSE:HD) Shares Up 1.1% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares traded up 1.1% on Friday after Telsey Advisory Group upgraded the stock from a market perform rating to an outperform rating. Telsey Advisory Group now has a $455.00 price target on the stock, up from their previous price target of $360.00. Home Depot traded as high as $404.59 and last traded at $403.89. 667,752 shares changed hands during trading, a decline of 80% from the average session volume of 3,357,314 shares. The stock had previously closed at $399.44.

A number of other equities research analysts also recently weighed in on HD. 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. Wells Fargo & Company boosted their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Piper Sandler boosted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Legal & General Group Plc grew its stake in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 971,833 shares during the period. Ameriprise Financial Inc. boosted its stake in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Home Depot by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

The firm has a 50 day simple moving average of $395.19 and a 200 day simple moving average of $363.84. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market cap of $403.18 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.74 and a beta of 1.01.

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, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the firm posted $4.65 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio is 60.57%.

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.