Barclays Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its price target raised by investment analysts at Barclays from $372.00 to $420.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Barclays‘s price target suggests a potential upside of 6.18% from the stock’s current price.

Several other analysts have also issued reports on HD. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Oppenheimer raised their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Guggenheim raised their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $415.26.

Home Depot Trading Up 0.8 %

NYSE:HD opened at $395.57 on Tuesday. The stock’s 50-day moving average is $392.94 and its two-hundred day moving average is $362.47. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $392.92 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. Home Depot has a fifty-two week low of $286.79 and a fifty-two week high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating 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 firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the prior year, the business earned $4.65 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently added to or reduced their stakes in the stock. WFA Asset Management Corp boosted its position in Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after acquiring an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Home Depot by 5.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after purchasing an additional 623 shares in the last quarter. Diversified LLC increased its stake in Home Depot by 9.6% in the 1st quarter. Diversified LLC now owns 3,608 shares of the home improvement retailer’s stock valued at $1,384,000 after buying an additional 316 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Home Depot by 2.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 38,031 shares of the home improvement retailer’s stock worth $14,588,000 after buying an additional 1,007 shares in the last quarter. Finally, Nicollet Investment Management Inc. acquired a new position in shares of Home Depot during the 1st quarter worth about $3,236,000. 70.86% of the stock is owned by institutional investors.

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.