Home Depot (NYSE:HD) Given New $417.00 Price Target at Truist Financial

Home Depot (NYSE:HD) had its price objective increased by Truist Financial from $393.00 to $417.00 in a report released on Tuesday. They currently have a buy rating on the home improvement retailer’s stock.

A number of other research firms have also issued reports on HD. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, Piper Sandler decreased their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $424.60.

Home Depot Stock Performance

NYSE:HD opened at $376.84 on Tuesday. The firm has a market capitalization of $374.59 billion, a PE ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm’s fifty day simple moving average is $358.99 and its 200 day simple moving average is $387.78.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $3.63 earnings per share. On average, sell-side analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Trading of Home Depot

Large investors have recently bought and sold shares of the stock. Wealth Group Ltd. boosted its stake in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of Home Depot in the fourth quarter valued at about $281,000. Capital & Planning LLC raised its holdings in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 563 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Home Depot during the 4th quarter worth about $634,000. Finally, Stillwater Capital Advisors LLC grew its holdings in Home Depot by 1.0% during the 4th quarter. Stillwater Capital Advisors LLC now owns 50,798 shares of the home improvement retailer’s stock worth $19,760,000 after acquiring an additional 497 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.