Home Depot (NYSE:HD) Given New $420.00 Price Target at Barclays

Home Depot (NYSE:HD) had its price target increased by Barclays from $372.00 to $420.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

Other research analysts have also issued reports about the company. Evercore ISI decreased their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $420.04.

Home Depot Stock Performance

NYSE HD opened at $405.90 on Tuesday. The firm has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. 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’s fifty day moving average price is $395.19 and its two-hundred day moving average price is $363.84. Home Depot has a 1 year low of $286.79 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the firm earned $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Home Depot will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio is presently 60.57%.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently made changes to their positions in the stock. WFA Asset Management Corp lifted its position in shares of Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after acquiring an additional 135 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Home Depot by 5.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after acquiring an additional 623 shares in the last quarter. Diversified LLC boosted its holdings in Home Depot by 9.6% during the 1st quarter. Diversified LLC now owns 3,608 shares of the home improvement retailer’s stock worth $1,384,000 after acquiring an additional 316 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Home Depot by 2.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 38,031 shares of the home improvement retailer’s stock worth $14,588,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Nicollet Investment Management Inc. purchased a new stake in Home Depot in the 1st quarter valued at about $3,236,000. Institutional investors and hedge funds 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.