Oppenheimer Boosts Home Depot (NYSE:HD) Price Target to $400.00

Home Depot (NYSE:HD) had its price objective increased by Oppenheimer from $345.00 to $400.00 in a report released on Tuesday, Benzinga reports. Oppenheimer currently has a market perform rating on the home improvement retailer’s stock.

Several other research analysts also recently commented on HD. Melius Research assumed coverage on Home Depot in a research report on Monday. They issued a buy rating and a $420.00 price target on the stock. Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an outperform rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group started coverage on Home Depot in a research report on Tuesday, July 16th. They issued a buy rating and a $426.00 price target on the stock. DA Davidson boosted their price objective on Home Depot from $395.00 to $430.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Finally, UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the company a buy rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of Moderate Buy and a consensus price target of $391.88.

Home Depot Stock Performance

HD opened at $396.74 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock’s 50 day moving average price is $366.76 and its two-hundred day moving average price is $354.72. The firm has a market capitalization of $393.41 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. Home Depot has a 12-month low of $274.26 and a 12-month high of $401.11.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $4.65 EPS. On average, equities analysts forecast that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Home Depot by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Legal & General Group Plc boosted its stake in Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.