Home Depot (NYSE:HD) Upgraded to “Hold” at Hsbc Global Res

Home Depot (NYSE:HD) was upgraded by Hsbc Global Res from a “moderate sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a report on Wednesday. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday. Finally, Stifel Nicolaus increased their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

Shares of HD stock opened at $390.40 on Wednesday. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market capitalization of $387.81 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average of $401.17 and a two-hundred day moving average of $398.42. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $2.82 earnings per share. As a group, equities analysts expect that Home Depot will post 15.13 EPS for the current year.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC grew its stake in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the period. Norges Bank acquired a new stake in shares of Home Depot during the fourth quarter worth $5,032,910,000. Capital Research Global Investors lifted its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Institutional investors and hedge funds 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.