Home Depot (NYSE:HD) Price Target Raised to $413.00

Home Depot (NYSE:HD) had its price target lifted by Royal Bank of Canada from $363.00 to $413.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the home improvement retailer’s stock.

Several other research analysts have also recently weighed in on HD. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Truist Financial raised their price target on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a report on Friday. Finally, Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $422.81.

Home Depot Stock Performance

HD traded up $2.29 on Monday, reaching $410.58. The company had a trading volume of 986,919 shares, compared to its average volume of 3,361,975. The stock has a market cap of $407.83 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.81 and a beta of 1.01. 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 fifty-two week low of $287.24 and a fifty-two week high of $421.56. The company’s fifty day moving average is $395.99 and its 200 day moving average is $364.77.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. As a group, analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently added to or reduced their stakes in the business. Texas Capital Bank Wealth Management Services Inc raised its position in shares of Home Depot by 27.6% during 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 acquiring an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. increased its position in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares during the period. Swedbank AB raised its holdings in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. LGT Group Foundation lifted its position in shares of Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares during the period. Finally, CX Institutional boosted its stake in shares of Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after purchasing an additional 22,668 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

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.