Loop Capital Boosts Home Depot (NYSE:HD) Price Target to $360.00

Home Depot (NYSE:HD) had its price objective hoisted by Loop Capital from $330.00 to $360.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the home improvement retailer’s stock.

A number of other equities analysts have also weighed in on HD. JPMorgan Chase & Co. upped their price objective on Home Depot from $377.00 to $400.00 and gave the stock an overweight rating in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on Home Depot from $377.00 to $363.00 and set a sector perform rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus dropped their price objective on Home Depot from $380.00 to $375.00 and set a hold rating for the company in a research note on Wednesday, August 14th. Daiwa America raised Home Depot to a hold rating in a research note on Thursday, August 15th. Finally, UBS Group upped their price objective on Home Depot from $400.00 to $425.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of Moderate Buy and an average target price of $389.04.

Home Depot Stock Performance

NYSE:HD opened at $390.39 on Tuesday. The stock has a 50-day simple moving average of $364.35 and a two-hundred day simple moving average of $354.38. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $387.12 billion, a PE ratio of 26.18, a P/E/G ratio of 2.57 and a beta of 1.00.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of HD. Wulff Hansen & CO. lifted its stake 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 shares of Home Depot during the 1st quarter worth approximately $513,016,000. Capital Research Global Investors lifted its stake in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. 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 acquiring an additional 971,833 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Home Depot during the 1st quarter worth approximately $301,364,000. 70.86% of the stock is owned by institutional investors.

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.