Home Depot (NYSE:HD) Price Target Raised to $430.00

Home Depot (NYSE:HD) had its price objective lifted by Wells Fargo & Company from $400.00 to $430.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

A number of other brokerages also recently weighed in on HD. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. Stifel Nicolaus reduced their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Thursday, September 12th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Trading Up 1.6 %

HD stock traded up $6.46 during trading on Wednesday, hitting $405.90. The company had a trading volume of 3,448,699 shares, compared to its average volume of 3,078,940. The business has a 50-day moving average of $395.19 and a 200-day moving average of $363.84. Home Depot has a one year low of $286.79 and a one year high of $421.56. The stock has a market cap of $403.18 billion, a PE ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 9.71% and a return on equity of 733.61%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. Research analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

Institutional Trading of Home Depot

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% during 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 buying an additional 8,762,735 shares during the period. Legal & General Group Plc raised its holdings in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after acquiring an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Home Depot by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after acquiring an additional 333,312 shares during the last quarter. 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.