Home Depot (NYSE:HD) Receives Buy Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Home Depot (NYSE:HD) in a report released on Wednesday,Benzinga reports. They currently have a $450.00 price objective on the home improvement retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Down 0.7 %

Shares of HD stock opened at $390.40 on Wednesday. The firm’s fifty day moving average price is $401.17 and its two-hundred day moving average price is $398.42. 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 has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a market capitalization of $387.81 billion, a P/E ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter worth approximately $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot during the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC lifted its stake in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Northern Trust Corp lifted its stake in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $471,189,000. Institutional investors 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.