Home Depot (NYSE:HD) Shares Up 1.3% Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares shot up 1.3% on Monday after Royal Bank of Canada raised their price target on the stock from $363.00 to $413.00. Royal Bank of Canada currently has a sector perform rating on the stock. Home Depot traded as high as $411.49 and last traded at $411.15. 657,699 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 3,357,687 shares. The stock had previously closed at $405.90.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Barclays lifted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Jefferies Financial Group started coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.81.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently modified their holdings of the stock. Abacus Wealth Partners LLC increased its stake in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares during the period. Capital City Trust Co. FL lifted its position in Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. boosted its stake in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the period. Finally, Acorn Creek Capital LLC increased its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 1.3 %

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company’s 50 day moving average price is $395.99 and its two-hundred day moving average price is $364.77. The firm has a market cap of $400.46 billion, a PE ratio of 27.33, a P/E/G ratio of 2.81 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.