Home Depot (NYSE:HD) Trading Up 0.5% on Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.5% on Monday after Piper Sandler raised their price target on the stock from $387.00 to $455.00. Piper Sandler currently has an overweight rating on the stock. Home Depot traded as high as $402.21 and last traded at $401.35. Approximately 374,574 shares were traded during trading, a decline of 89% from the average daily volume of 3,372,832 shares. The stock had previously closed at $399.53.

HD has been the subject of a number of other reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $394.08.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its position in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares during the period. Legal & General Group Plc grew its holdings in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 15.0% during the first 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 purchasing an additional 971,833 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Home Depot by 2.5% during the second 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. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm has a market cap of $405.78 billion, a P/E ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The business has a fifty day moving average of $369.92 and a 200 day moving average of $355.36.

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

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued 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 was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.