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

Home Depot (NYSE:HD) had its target price hoisted by equities research analysts at Morgan Stanley from $380.00 to $450.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s target price suggests a potential upside of 11.05% from the company’s current price.

Several other analysts also recently weighed in on the company. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Loop Capital upgraded 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 report on Wednesday, October 9th. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Evercore ISI cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $409.12.

Home Depot Trading Down 2.4 %

Shares of NYSE:HD traded down $9.78 on Monday, hitting $405.22. 1,694,767 shares of the company’s stock were exchanged, compared to its average volume of 3,360,015. Home Depot has a 12 month low of $274.26 and a 12 month high of $421.56. The stock has a market capitalization of $401.82 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The business’s 50 day simple moving average is $385.10 and its two-hundred day simple moving average is $358.49. 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 (NYSE:HD) last released 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 return on equity of 681.27% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $4.65 earnings per share. Analysts anticipate that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Large investors have recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Home Depot by 27.6% in the second 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 acquiring an additional 5,879 shares during the period. Empirical Finance LLC raised its stake in shares of Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC raised its stake in shares of Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares during the period. Swedbank AB raised its stake 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 buying an additional 132,967 shares during the period. Finally, Leeward Financial Partners LLC raised its stake in shares of Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after buying an additional 711 shares during the period. 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.