Home Depot (NYSE:HD) Upgraded at DA Davidson

DA Davidson upgraded shares of Home Depot (NYSE:HD) from a neutral rating to a buy rating in a report published on Wednesday morning, Marketbeat.com reports. They currently have $395.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $352.00.

Several other equities analysts have also recently issued reports on HD. Wedbush reissued an outperform rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. Citigroup reduced their price target on Home Depot from $415.00 to $395.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. TD Cowen reduced their price target on Home Depot from $440.00 to $420.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Mizuho started coverage on Home Depot in a research note on Tuesday, March 19th. They issued a buy rating and a $415.00 price target on the stock. Finally, Truist Financial reduced their price target on Home Depot from $417.00 to $406.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of Moderate Buy and a consensus target price of $378.42.

Home Depot Price Performance

HD opened at $344.34 on Wednesday. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87. The stock has a market capitalization of $341.45 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The stock’s 50 day moving average price is $338.51 and its 200-day moving average price is $352.60.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the previous year, the firm earned $3.82 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Home Depot will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.10% of the stock is owned by company insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bare Financial Services Inc purchased a new stake in Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $27,000. Keener Financial Planning LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $31,000. PFG Private Wealth Management LLC grew its position in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $35,000. 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.