Home Depot (NYSE:HD) Trading 1.1% Higher on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s share price rose 1.1% on Friday after Telsey Advisory Group upgraded the stock from a market perform rating to an outperform rating. Telsey Advisory Group now has a $455.00 price target on the stock, up from their previous price target of $360.00. Home Depot traded as high as $404.59 and last traded at $403.89. Approximately 667,752 shares changed hands during trading, a decline of 80% from the average daily volume of 3,357,314 shares. The stock had previously closed at $399.44.

HD has been the topic of several other reports. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada dropped their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. Finally, DA Davidson upped their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $420.04.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the period. Empirical Finance LLC grew its position in shares of Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares during the period. Pegasus Asset Management Inc. increased its stake in shares of Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB raised its position in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Finally, LGT Group Foundation lifted its position in shares of Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after acquiring an additional 147,482 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.9 %

The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The business has a fifty day simple moving average of $393.80 and a two-hundred day simple moving average of $363.10. The company has a market cap of $400.24 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

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 dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.