Guggenheim Raises Home Depot (NYSE:HD) Price Target to $450.00

Home Depot (NYSE:HD) had its price objective increased by Guggenheim from $390.00 to $450.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

HD has been the topic of a number of other research reports. Piper Sandler boosted their target price on Home Depot from $387.00 to $455.00 and gave the stock an overweight rating in a research note on Monday, September 30th. Loop Capital boosted their price objective on Home Depot from $330.00 to $360.00 and gave the stock a hold rating in a research report on Tuesday, September 17th. Evercore ISI reduced their price objective on Home Depot from $415.00 to $400.00 and set an outperform rating for the company in a research note on Wednesday, August 14th. Daiwa America upgraded Home Depot to a hold rating in a research note on Thursday, August 15th. Finally, UBS Group increased their price target on shares of 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-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of Moderate Buy and a consensus target price of $398.54.

Home Depot Trading Down 0.8 %

HD opened at $408.36 on Friday. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $412.97. The firm has a market capitalization of $404.94 billion, a PE ratio of 27.39, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The company’s 50-day moving average is $373.28 and its 200 day moving average is $356.04.

Home Depot (NYSE:HD) last posted its earnings results 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. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $4.65 earnings per share. As a group, research analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently added to or reduced their stakes in the business. Wulff Hansen & CO. lifted its holdings in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the first quarter worth about $513,016,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 15.0% in 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 purchasing an additional 971,833 shares in the last quarter. Swedbank AB bought a new position in shares of Home Depot during the 1st quarter valued at about $301,364,000. Finally, Jennison Associates LLC raised its holdings in shares of Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after buying an additional 569,690 shares in the last quarter. 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.