Home Depot (NYSE:HD) Price Target Raised to $413.00 at Royal Bank of Canada

Home Depot (NYSE:HD) had its price target upped by Royal Bank of Canada from $363.00 to $413.00 in a research note published on Monday,Benzinga reports. They currently have a sector perform rating on the home improvement retailer’s stock.

Several other equities research analysts have also weighed in on the company. Oppenheimer lifted their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. DA Davidson increased their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Truist Financial boosted their target price on Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Down 1.1 %

NYSE HD opened at $405.60 on Monday. The company has a market cap of $402.88 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.83 and a beta of 1.01. Home Depot has a 52 week low of $302.34 and a 52 week high of $421.56. The business has a 50 day moving average price of $397.67 and a 200-day moving average price of $365.56. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts expect that Home Depot will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently modified their holdings of HD. Ascent Group LLC raised its position in shares of Home Depot by 19.2% in the 3rd quarter. Ascent Group LLC now owns 28,625 shares of the home improvement retailer’s stock worth $11,599,000 after buying an additional 4,606 shares during the period. Benjamin Edwards Inc. raised its position in Home Depot by 1,774.9% in the third quarter. Benjamin Edwards Inc. now owns 207,640 shares of the home improvement retailer’s stock valued at $84,166,000 after purchasing an additional 196,565 shares during the period. Atlas Wealth LLC purchased a new position in Home Depot in the third quarter valued at about $226,000. Atom Investors LP purchased a new stake in shares of Home Depot during the third quarter worth about $2,246,000. Finally, Avalon Global Asset Management LLC increased its position in shares of Home Depot by 46.0% during the third quarter. Avalon Global Asset Management LLC now owns 47,600 shares of the home improvement retailer’s stock worth $19,288,000 after acquiring an additional 15,000 shares during the last quarter. 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.