Home Depot (NYSE:HD) Trading Up 0.5% on Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) shot up 0.5% during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $387.00 to $455.00. Piper Sandler currently has an overweight rating on the stock. Home Depot traded as high as $402.21 and last traded at $401.35. 374,574 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,372,832 shares. The stock had previously closed at $399.53.

Several other equities research analysts have also recently issued reports on HD. JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus cut their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Finally, Truist Financial cut their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.08.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fairway Wealth LLC bought a new stake in shares of Home Depot in the second quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the fourth quarter worth $27,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot in the first quarter worth $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the fourth quarter worth $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 1.0 %

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a market cap of $405.78 billion, a P/E ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The firm’s 50 day moving average is $369.92 and its two-hundred day moving average is $355.36.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. 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 posted $4.65 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

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.