Home Depot (NYSE:HD) Given New $400.00 Price Target at Oppenheimer

Home Depot (NYSE:HD) had its target price hoisted by Oppenheimer from $345.00 to $400.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the home improvement retailer’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada decreased their price objective on shares of Home Depot from $377.00 to $363.00 and set a sector perform rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted 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. DA Davidson increased their price objective on shares of Home Depot from $395.00 to $430.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a hold rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of Moderate Buy and a consensus price target of $391.88.

Home Depot Price Performance

HD opened at $399.44 on Tuesday. The company has a market capitalization of $396.09 billion, a P/E ratio of 26.79, a PEG ratio of 2.71 and a beta of 1.00. The company has a 50-day moving average of $368.10 and a 200-day moving average of $355.21. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. Home Depot has a 1-year low of $274.26 and a 1-year high of $403.54.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of HD. Wulff Hansen & CO. boosted its holdings in Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Home Depot during the 1st quarter worth $513,016,000. Capital Research Global Investors boosted its stake in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Home Depot during the first quarter valued at $301,364,000. 70.86% of the stock is 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.