Home Depot (NYSE:HD) Raised to “Buy” at Loop Capital

Loop Capital upgraded shares of Home Depot (NYSE:HD) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have $460.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $360.00.

Several other research firms have also recently commented on HD. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a buy rating in a research note on Friday, October 4th. Gordon Haskett raised Home Depot from an accumulate rating to a buy rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. Oppenheimer raised their price objective on Home Depot from $345.00 to $400.00 and gave the stock a market perform rating in a report on Tuesday, September 24th. Truist Financial decreased their target price on Home Depot from $396.00 to $395.00 and set a buy rating for the company in a report on Wednesday, August 14th. Finally, Daiwa America raised shares of Home Depot to a hold rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $402.38.

Home Depot Trading Up 0.5 %

Shares of HD stock opened at $411.90 on Wednesday. The business’s fifty day moving average price is $378.34 and its 200 day moving average price is $357.28. The firm has a market capitalization of $409.14 billion, a PE ratio of 27.72, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. Home Depot has a 1-year low of $274.26 and a 1-year high of $420.03.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. As a group, sell-side analysts forecast that Home Depot will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.18%. Home Depot’s dividend payout ratio is presently 60.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Wulff Hansen & CO. increased its stake in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Home Depot in the 1st quarter valued at $513,016,000. Price T Rowe Associates Inc. MD raised its position in Home Depot by 15.0% in the first 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 period. Swedbank AB bought a new stake in shares of Home Depot in the 1st quarter worth approximately $301,364,000. Finally, Jennison Associates LLC grew its stake in shares of Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors own 70.86% of the company’s stock.

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.