The Home Depot, Inc. (NYSE:HD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The Home Depot, Inc. (NYSE:HD) have earned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $435.85.

A number of analysts have weighed in on HD shares. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th.

Home Depot Price Performance

HD stock opened at $353.78 on Friday. The stock has a market cap of $351.67 billion, a PE ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a 50-day moving average price of $384.89 and a 200 day moving average price of $398.25. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts anticipate 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 was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently modified their holdings of HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at $28,000. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP lifted its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds 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.