Home Depot (NYSE:HD) Rating Increased to Strong-Buy at KGI Securities

KGI Securities upgraded shares of Home Depot (NYSE:HD) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

NYSE:HD opened at $381.55 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. The stock’s 50 day simple moving average is $401.00 and its two-hundred day simple moving average is $399.71. The company has a market cap of $379.02 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. As a group, equities analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.41%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP raised its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.