Home Depot’s (HD) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Home Depot (NYSE:HD) in a report published on Wednesday morning,Benzinga reports. Guggenheim currently has a $450.00 price objective on the home improvement retailer’s stock.

Several other equities analysts have also commented on HD. Wells Fargo & Company upped their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial dropped their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 1.6 %

Shares of Home Depot stock opened at $396.69 on Wednesday. The stock has a 50 day moving average of $401.36 and a 200 day moving average of $398.72. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.32%. Home Depot’s dividend payout ratio is 61.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. K.J. Harrison & Partners Inc lifted its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Pensionfund Sabic raised its position in Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the last quarter. Swedbank AB raised its position in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $1,793,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

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.