Home Depot (NYSE:HD) Price Target Raised to $400.00

Home Depot (NYSE:HD) had its price objective boosted by Stifel Nicolaus from $375.00 to $400.00 in a research note published on Monday morning,Benzinga reports. They currently have a hold rating on the home improvement retailer’s stock.

Several other research firms have also recently commented on HD. UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Finally, Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

HD stock opened at $410.39 on Monday. The stock’s fifty day moving average is $396.76 and its two-hundred day moving average is $365.25. The stock has a market capitalization of $407.64 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.79 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. Home Depot has a 1 year low of $300.14 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same period in the previous year, the business posted $3.81 EPS. Home Depot’s revenue was up 6.6% on a year-over-year basis. On average, research analysts predict that Home Depot will post 14.99 EPS for the current year.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Providence Capital Advisors LLC increased its stake in shares of Home Depot by 0.8% in the third quarter. Providence Capital Advisors LLC now owns 21,574 shares of the home improvement retailer’s stock worth $8,742,000 after acquiring an additional 178 shares during the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of Home Depot by 1.1% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,348 shares of the home improvement retailer’s stock worth $1,762,000 after purchasing an additional 49 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Home Depot during the 3rd quarter valued at about $62,000. CreativeOne Wealth LLC increased its holdings in Home Depot by 16.8% in the third quarter. CreativeOne Wealth LLC now owns 20,342 shares of the home improvement retailer’s stock worth $8,242,000 after buying an additional 2,923 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot in the third quarter valued at approximately $336,231,000. 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.