Home Depot (NYSE:HD) Stock Price Expected to Rise, Bank of America Analyst Says

Home Depot (NYSE:HD) had its price objective upped by equities researchers at Bank of America from $425.00 to $450.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price objective would indicate a potential upside of 10.95% from the stock’s previous close.

Several other equities research analysts have also commented on HD. Barclays boosted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. 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 a consensus target price of $426.00.

Home Depot Price Performance

Home Depot stock opened at $405.60 on Wednesday. The stock has a market cap of $402.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.83 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. Home Depot has a 1 year low of $302.34 and a 1 year high of $421.56. The firm has a 50-day moving average of $397.67 and a two-hundred day moving average of $365.56.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the company earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts forecast that Home Depot will post 15.06 earnings per share for the current year.

Institutional Trading of Home Depot

Hedge funds have recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new position in Home Depot during the second quarter worth $33,000. Denver PWM LLC acquired a new position in Home Depot during the second quarter worth $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the second quarter worth $47,000. 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.