Home Depot (NYSE:HD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Home Depot (NYSE:HD) from a hold rating to a buy rating in a research report report published on Wednesday.

Several other research analysts also recently commented on HD. Truist Financial reissued a buy rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Stifel Nicolaus raised their target price on shares of Home Depot from $355.00 to $366.00 and gave the stock a hold rating in a report on Friday, February 16th. HSBC restated a reduce rating and issued a $323.00 target price on shares of Home Depot in a report on Wednesday, April 3rd. Bank of America raised their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a buy rating in a report on Monday, April 1st. Finally, Robert W. Baird restated an outperform rating and issued a $370.00 target price on shares of Home Depot in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $375.96.

Home Depot Trading Up 0.9 %

Shares of HD opened at $335.01 on Wednesday. The firm’s 50 day simple moving average is $364.77 and its 200 day simple moving average is $340.68. The company has a market capitalization of $332.00 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $3.30 earnings per share. Sell-side analysts forecast that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. Home Depot’s payout ratio is presently 59.60%.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently made changes to their positions in the business. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its stake in shares of Home Depot by 1.6% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 12,323 shares of the home improvement retailer’s stock worth $4,727,000 after purchasing an additional 190 shares during the period. Finer Wealth Management Inc. increased its holdings in Home Depot by 2.1% in the 1st quarter. Finer Wealth Management Inc. now owns 1,620 shares of the home improvement retailer’s stock worth $621,000 after acquiring an additional 33 shares in the last quarter. K.J. Harrison & Partners Inc increased its holdings in Home Depot by 202.6% in the 1st quarter. K.J. Harrison & Partners Inc now owns 5,210 shares of the home improvement retailer’s stock worth $1,999,000 after acquiring an additional 3,488 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Home Depot in the 1st quarter worth approximately $224,000. Finally, Trueblood Wealth Management LLC increased its holdings in Home Depot by 1.3% in the 1st quarter. Trueblood Wealth Management LLC now owns 5,559 shares of the home improvement retailer’s stock worth $2,132,000 after acquiring an additional 70 shares in the last quarter. Institutional investors 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.