Home Depot (NYSE:HD) Lifted to “Buy” at Gordon Haskett

Gordon Haskett upgraded shares of Home Depot (NYSE:HD) from an accumulate rating to a buy rating in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $450.00 price objective on the home improvement retailer’s stock.

HD has been the subject of a number of other reports. Loop Capital boosted their target price on shares of Home Depot from $330.00 to $360.00 and gave the company a hold rating in a research note on Tuesday, September 17th. Royal Bank of Canada decreased their price objective on Home Depot from $377.00 to $363.00 and set a sector perform rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a hold rating on the stock in a research note on Wednesday, August 14th. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. Finally, Telsey Advisory Group reissued a market perform rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $398.54.

Home Depot Trading Down 0.8 %

Home Depot stock opened at $408.36 on Wednesday. Home Depot has a 1 year low of $274.26 and a 1 year high of $412.97. The firm’s 50-day moving average is $373.28 and its 200-day moving average is $356.40. 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 company has a market cap of $404.94 billion, a P/E ratio of 27.39, a PEG ratio of 2.71 and a beta of 1.00.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC grew its position in Home Depot by 1.0% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,345 shares of the home improvement retailer’s stock valued at $2,546,000 after purchasing an additional 71 shares in the last quarter. Menlo Advisors LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $220,000. Exencial Wealth Advisors LLC increased its stake in shares of Home Depot by 24.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 7,843 shares of the home improvement retailer’s stock worth $2,718,000 after acquiring an additional 1,543 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $1,386,000. Finally, Pinnacle West Asset Management Inc. boosted its position in Home Depot by 3.9% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 8,635 shares of the home improvement retailer’s stock valued at $2,992,000 after purchasing an additional 325 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.