Wells Fargo & Company Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price target boosted by Wells Fargo & Company from $400.00 to $430.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

HD has been the topic of a number of other reports. Evercore ISI dropped their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler lifted their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Stock Up 1.6 %

HD stock opened at $405.90 on Wednesday. Home Depot has a 52 week low of $286.79 and a 52 week high of $421.56. The company has a market capitalization of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The firm’s 50-day moving average is $395.19 and its two-hundred day moving average is $363.84. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its quarterly 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 company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the firm earned $4.65 EPS. Home Depot’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. WFA Asset Management Corp grew its holdings in 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 worth $535,000 after acquiring an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Home Depot by 5.8% in 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 during the period. Avidian Wealth Solutions LLC raised its position in shares of Home Depot by 3.1% in the 1st quarter. Avidian Wealth Solutions LLC now owns 14,261 shares of the home improvement retailer’s stock valued at $5,471,000 after acquiring an additional 432 shares during the period. Catalina Capital Group LLC raised its position in shares of Home Depot by 61.2% in the 1st quarter. Catalina Capital Group LLC now owns 5,618 shares of the home improvement retailer’s stock valued at $2,155,000 after acquiring an additional 2,133 shares during the period. Finally, Carson Advisory Inc. raised its holdings in Home Depot by 0.5% during the 1st quarter. Carson Advisory Inc. now owns 6,618 shares of the home improvement retailer’s stock worth $2,539,000 after buying an additional 30 shares during the period. 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.