Home Depot (NYSE:HD) Price Target Raised to $420.00 at Barclays

Home Depot (NYSE:HD) had its price target boosted by Barclays from $372.00 to $420.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

HD has been the topic of a number of other research reports. Truist Financial boosted their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday, October 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $415.26.

Home Depot Stock Up 1.2 %

HD stock opened at $400.21 on Tuesday. The company has a market cap of $397.53 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The company has a fifty day moving average price of $393.49 and a 200 day moving average price of $362.92. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. Home Depot has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate 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 733.61%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Sell-side analysts expect that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 yield of 2.25%. Home Depot’s payout ratio is currently 60.57%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot in the second quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the second quarter worth approximately $47,000. Hedge funds and other institutional investors 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.