Truist Financial Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price lifted by Truist Financial from $459.00 to $465.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Mizuho lifted their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim boosted their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Up 0.6 %

Shares of HD opened at $408.18 on Wednesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. Home Depot has a 1-year low of $302.34 and a 1-year high of $421.56. The company has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The firm’s 50 day simple moving average is $399.51 and its 200 day simple moving average is $366.34.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company posted $3.81 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Home Depot will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the business. Abacus Wealth Partners LLC raised its position in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares during the period. Insight Inv LLC lifted its position in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after buying an additional 25 shares during the last quarter. Capital City Trust Co. FL boosted its stake in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. Finally, Ruedi Wealth Management Inc. increased its position in shares of Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.