Stifel Nicolaus Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price objective boosted by Stifel Nicolaus from $375.00 to $400.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the home improvement retailer’s stock.

Several other equities analysts have also commented on HD. Truist Financial upped their target price on Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

NYSE HD opened at $405.60 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $402.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. Home Depot has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The business has a fifty day moving average of $397.67 and a 200-day moving average of $365.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the firm posted $3.81 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that Home Depot will post 15.06 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio is presently 61.14%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HD. Fairway Wealth LLC bought a new stake in Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $33,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Denver PWM LLC bought a new position in Home Depot during the second quarter worth $40,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 51 shares during the period. 70.86% of the stock is 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.