Home Depot (NYSE:HD) Price Target Raised to $418.00

Home Depot (NYSE:HD) had its price target hoisted by JPMorgan Chase & Co. from $410.00 to $418.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

HD has been the topic of several other research reports. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday. Jefferies Financial Group lowered their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday. Royal Bank of Canada lowered their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Finally, TD Securities reiterated a “buy” rating and issued a $470.00 price objective on shares of Home Depot in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Price Performance

NYSE:HD opened at $363.17 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The stock’s 50-day moving average price is $359.90 and its 200-day moving average price is $387.20. The stock has a market capitalization of $361.00 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the business posted $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter valued at approximately $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $32,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.