Home Depot (NYSE:HD) PT Raised to $450.00 at Morgan Stanley

Home Depot (NYSE:HD) had its price target lifted by Morgan Stanley from $380.00 to $450.00 in a research note published on Monday, Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Oppenheimer raised their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Piper Sandler raised their price target 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. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Stock Down 0.5 %

Shares of Home Depot stock opened at $399.64 on Monday. The firm has a fifty day moving average of $388.23 and a two-hundred day moving average of $359.43. 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 company has a market cap of $396.29 billion, a P/E ratio of 26.80, a PEG ratio of 2.88 and a beta of 1.00. Home Depot has a one year low of $274.26 and a one year high of $421.56.

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

Home Depot Announces Dividend

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

Institutional Investors Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in Home Depot in the second quarter worth approximately $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the second quarter valued at approximately $33,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot in the third quarter valued at approximately $46,000. Denver PWM LLC bought a new stake in Home Depot during the second quarter worth $40,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.