HSBC Upgrades Home Depot (NYSE:HD) to Hold

Home Depot (NYSE:HD) was upgraded by equities research analysts at HSBC from a “reduce” rating to a “hold” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $410.00 price target on the home improvement retailer’s stock, up from their prior price target of $356.00. HSBC’s price objective indicates a potential upside of 4.19% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Truist Financial increased their target price on shares of Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Evercore ISI lifted their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Thursday, February 20th. Finally, Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $437.12.

Home Depot Stock Performance

Shares of HD stock opened at $393.52 on Wednesday. The company’s fifty day moving average price is $401.23 and its two-hundred day moving average price is $398.48. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $390.90 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37.

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

Hedge Funds Weigh In On Home Depot

Several large investors have recently made changes to their positions in HD. Norges Bank acquired a new position in Home Depot during the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted its stake in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Northern Trust Corp grew its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Home Depot during the fourth quarter valued at about $471,189,000. Institutional investors and hedge funds 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.