Home Depot (NYSE:HD) Shares Up 1.3% Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 1.3% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $450.00 to $475.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Home Depot traded as high as $414.58 and last traded at $412.70. 429,624 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,910,524 shares. The stock had previously closed at $407.37.

Several other brokerages also recently weighed in on HD. DA Davidson lifted their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus raised their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $428.78.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last three months. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC boosted its position in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot in the 3rd quarter worth $336,231,000. Finally, FMR LLC increased its position in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.2 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $409.54 billion, a P/E ratio of 28.03, a P/E/G ratio of 4.22 and a beta of 1.05. The firm’s 50 day moving average price is $406.14 and its 200 day moving average price is $394.55.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.81 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.