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

Home Depot (NYSE:HD) had its price target raised by Evercore ISI from $420.00 to $430.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Several other analysts have also recently weighed in on HD. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. DA Davidson boosted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. 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’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

Shares of NYSE HD opened at $408.18 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. Home Depot has a 12 month low of $302.34 and a 12 month high of $421.56. The stock has a 50 day moving average of $399.51 and a 200-day moving average of $366.34.

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, topping 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 company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company posted $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that Home Depot will post 15.06 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is presently 61.14%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Insight Inv LLC raised its position in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the period. Greenwood Gearhart Inc. lifted its holdings in shares of Home Depot by 8.9% in the 3rd quarter. Greenwood Gearhart Inc. now owns 36,580 shares of the home improvement retailer’s stock worth $14,821,000 after purchasing an additional 2,993 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Home Depot in the 3rd quarter valued at $1,381,000. Finally, Frisch Financial Group Inc. increased its stake in Home Depot by 1.8% during the 3rd quarter. Frisch Financial Group Inc. now owns 6,781 shares of the home improvement retailer’s stock valued at $2,747,000 after purchasing an additional 118 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.