Home Depot (NYSE:HD) Now Covered by Melius Research

Equities researchers at Melius Research started coverage on shares of Home Depot (NYSE:HD) in a research report issued to clients and investors on Monday, Benzinga reports. The firm set a “buy” rating and a $420.00 price target on the home improvement retailer’s stock. Melius Research’s price target would suggest a potential upside of 4.75% from the company’s current price.

A number of other equities research analysts have also recently commented on HD. UBS Group raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Loop Capital upped their price objective on shares of Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $391.88.

Home Depot Trading Up 2.3 %

NYSE HD opened at $400.95 on Monday. Home Depot has a 1 year low of $274.26 and a 1 year high of $401.11. 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 has a market capitalization of $397.59 billion, a PE ratio of 26.89, a P/E/G ratio of 2.57 and a beta of 1.00. The company has a fifty day moving average of $366.26 and a 200 day moving average of $354.42.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $4.65 EPS. Research analysts forecast that Home Depot will post 15.01 earnings per share for the current year.

Institutional Investors Weigh In On Home Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empirical Finance LLC boosted its position in shares of Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC grew its position in Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after acquiring an additional 965 shares in the last quarter. Leeward Financial Partners LLC increased its stake in Home Depot by 7.3% during the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after purchasing an additional 711 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth about $88,708,000. Finally, Johnson & White Wealth Management LLC boosted its stake in shares of Home Depot by 6.2% in the first quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock valued at $1,611,000 after purchasing an additional 247 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.