KGI Securities Upgrades Home Depot (NYSE:HD) to “Strong-Buy”

Home Depot (NYSE:HD) was upgraded by equities research analysts at KGI Securities to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

HD has been the topic of several other reports. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 2.1 %

Shares of HD opened at $381.55 on Monday. The business’s 50-day moving average price is $401.00 and its 200-day moving average price is $399.71. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a market cap of $379.02 billion, a PE ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. 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 (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 earnings per share. On average, equities analysts forecast that Home Depot will post 15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently added to or reduced their stakes in HD. BridgePort Financial Solutions LLC bought a new position in shares of Home Depot during the fourth quarter valued at $767,000. Park Square Financial Group LLC bought a new position in shares of Home Depot during the fourth quarter valued at $1,401,000. Total Wealth Planning & Management Inc. bought a new position in shares of Home Depot during the fourth quarter valued at $1,664,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Home Depot during the fourth quarter valued at $275,420,000. Finally, Brooklyn FI LLC bought a new position in shares of Home Depot during the fourth quarter valued at $2,312,000. Institutional investors own 70.86% of the company’s stock.

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.