Home Depot (NYSE:HD) Upgraded to Outperform at Telsey Advisory Group

Telsey Advisory Group upgraded shares of Home Depot (NYSE:HD) from a market perform rating to an outperform rating in a research report report published on Friday, Marketbeat reports. They currently have $455.00 price target on the home improvement retailer’s stock, up from their prior price target of $360.00.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. upped their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Oppenheimer upped their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Guggenheim boosted their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Stock Up 1.6 %

Shares of NYSE:HD traded up $6.46 during trading on Friday, hitting $405.90. The company’s stock had a trading volume of 3,448,699 shares, compared to its average volume of 3,078,940. The company has a market capitalization of $403.18 billion, a PE ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. Home Depot has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. The business has a 50 day moving average price of $395.19 and a two-hundred day moving average price of $363.84.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the business earned $4.65 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, research analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Home Depot by 15.0% during the 1st 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 buying an additional 971,833 shares during the last quarter. Swedbank AB bought a new stake in shares of Home Depot during the 1st quarter worth about $301,364,000. Finally, Sarasin & Partners LLP lifted its position in Home Depot by 95.2% during the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after acquiring an additional 556,053 shares during the last quarter. 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.