Guggenheim Increases Home Depot (NYSE:HD) Price Target to $450.00

Home Depot (NYSE:HD) had its price target raised by Guggenheim from $390.00 to $450.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other research firms also recently commented on HD. Evercore ISI dropped their price objective on shares of Home Depot from $415.00 to $400.00 and set an outperform rating on the stock in a report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a hold rating in a report on Thursday, August 15th. Loop Capital lifted their price objective on shares of Home Depot from $330.00 to $360.00 and gave the company a hold rating in a research note on Tuesday, September 17th. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the stock an overweight rating in a research report on Monday, September 30th. Finally, DA Davidson lifted their price target on Home Depot from $395.00 to $430.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $398.54.

Home Depot Stock Performance

Shares of HD stock opened at $408.23 on Friday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market cap of $404.81 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 2.71 and a beta of 1.00. Home Depot has a 52 week low of $274.26 and a 52 week high of $412.97. The firm’s 50-day simple moving average is $373.28 and its two-hundred day simple moving average is $356.04.

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. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 earnings per share. As a group, equities analysts forecast that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc raised its stake in 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 buying an additional 5,879 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC boosted its position in shares of Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after purchasing an additional 965 shares in the last quarter. Leeward Financial Partners LLC grew its stake in Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after purchasing an additional 711 shares during the period. Finally, Sanibel Captiva Trust Company Inc. bought a new position in Home Depot in the fourth quarter worth $88,708,000. 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.