Home Depot (NYSE:HD) Price Target Raised to $465.00

Home Depot (NYSE:HD) had its price objective increased by Truist Financial from $459.00 to $465.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, TD Cowen boosted their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

NYSE:HD opened at $408.25 on Wednesday. The business’s 50-day moving average is $399.51 and its 200 day moving average is $366.34. Home Depot has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a market capitalization of $405.51 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65.

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

Home Depot Dividend Announcement

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

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Home Depot by 2.0% during 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 purchasing an additional 433,126 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Home Depot by 2.2% during the 3rd quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock valued at $3,819,679,000 after buying an additional 205,954 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the period. FMR LLC boosted its stake in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.