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

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

Several other brokerages have also issued reports on HD. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Melius Research started coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

NYSE:HD opened at $410.39 on Monday. The firm has a market capitalization of $407.64 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The business’s fifty day moving average price is $396.76 and its 200 day moving average price is $365.25. Home Depot has a 12 month low of $300.14 and a 12 month 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 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 firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Home Depot will post 14.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. boosted its position in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after acquiring an additional 86 shares during the last quarter. Swedbank AB lifted its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. LGT Group Foundation boosted its stake in Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares during the last quarter. Finally, CX Institutional grew its holdings in Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after buying an additional 22,668 shares during the period. 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.