KGI Securities Upgrades Home Depot (NYSE:HD) to “Strong-Buy”

Home Depot (NYSE:HD) was upgraded by equities researchers at KGI Securities to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Barclays lifted their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 2.1 %

Shares of NYSE:HD opened at $381.55 on Monday. The stock has a market capitalization of $379.02 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock’s 50-day simple moving average is $401.00 and its two-hundred day simple moving average is $399.71. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm posted $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts expect that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter valued at about $28,000. Navigoe LLC bought a new stake in Home Depot during the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $32,000. Finally, Quarry LP boosted its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.