Home Depot (NYSE:HD) Upgraded at HSBC

Home Depot (NYSE:HD) was upgraded by research analysts at HSBC from a “reduce” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $410.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $356.00. HSBC’s target price indicates a potential upside of 5.01% from the stock’s current price.

Several other equities analysts also recently weighed in on HD. Truist Financial raised their price target on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on 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 restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 0.0 %

NYSE HD opened at $390.44 on Wednesday. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market capitalization of $387.85 billion, a PE ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50 day moving average is $401.27 and its 200 day moving average is $398.37.

Home Depot (NYSE:HD) last issued its quarterly 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. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. Research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. bought a new position in Home Depot in the 4th quarter worth $2,212,546,000. Proficio Capital Partners LLC increased its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Northern Trust Corp raised its holdings 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 valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $471,189,000. 70.86% of the stock is currently owned by institutional investors.

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.