Home Depot (NYSE:HD) Price Target Raised to $450.00 at Bank of America

Home Depot (NYSE:HD) had its price objective hoisted by Bank of America from $425.00 to $450.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the home improvement retailer’s stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Evercore ISI lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

HD stock opened at $409.76 on Wednesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The company’s 50-day moving average is $397.67 and its 200-day moving average is $365.56. The stock has a market capitalization of $407.01 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01. Home Depot has a 1 year low of $302.34 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the prior year, the company earned $3.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Home Depot will post 14.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Wulff Hansen & CO. grew its stake in shares of Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot during the 3rd quarter valued at approximately $336,231,000. Finally, FMR LLC lifted its holdings in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

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.