Telsey Advisory Group Upgrades Home Depot (NYSE:HD) to “Outperform”

Home Depot (NYSE:HD) was upgraded by stock analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The firm presently has a $455.00 price target on the home improvement retailer’s stock, up from their previous price target of $360.00. Telsey Advisory Group’s price target suggests a potential upside of 13.92% from the company’s current price.

A number of other equities research analysts have also recently commented on HD. Wells Fargo & Company upped their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Stock Performance

Shares of HD stock opened at $399.41 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a fifty day moving average price of $393.80 and a 200 day moving average price of $363.10. The company has a market cap of $396.73 billion, a P/E ratio of 26.88, a PEG ratio of 2.74 and a beta of 1.01. Home Depot has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping 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 firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in the business. Abacus Wealth Partners LLC increased its position in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its position in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the period. Capital City Trust Co. FL increased its position in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after acquiring an additional 26 shares during the period. Ruedi Wealth Management Inc. increased its position in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after acquiring an additional 27 shares during the period. Finally, Acorn Creek Capital LLC increased its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after acquiring an additional 28 shares during the period. Hedge funds and other 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.