Home Depot (NYSE:HD) Upgraded to “Outperform” by Zelman & Associates

Zelman & Associates upgraded shares of Home Depot (NYSE:HDFree Report) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, Benzinga reports.

A number of other brokerages also recently weighed in on HD. Telsey Advisory Group raised their target price on shares of Home Depot from $335.00 to $360.00 and gave the company a market perform rating in a research note on Monday. Citigroup raised their price objective on Home Depot from $333.00 to $415.00 and gave the company a buy rating in a research report on Wednesday, February 21st. Guggenheim boosted their target price on Home Depot from $370.00 to $390.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Truist Financial raised their price target on Home Depot from $386.00 to $417.00 and gave the company a buy rating in a report on Monday. Finally, HSBC cut shares of Home Depot from a hold rating to a reduce rating and set a $323.00 price target on the stock. in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $376.35.

Check Out Our Latest Report on HD

Home Depot Price Performance

HD stock opened at $363.00 on Tuesday. The firm has a 50-day moving average of $369.63 and a 200 day moving average of $335.67. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The company has a market cap of $359.74 billion, a P/E ratio of 24.04, a PEG ratio of 2.53 and a beta of 0.98. Home Depot has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HDGet Free Report) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.30 EPS. On average, sell-side analysts forecast that Home Depot will post 15.39 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is currently 59.60%.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter valued at about $4,311,070,000. Moneta Group Investment Advisors LLC boosted its stake in Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after buying an additional 10,984,516 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares during the last quarter. Comerica Bank purchased a new position in Home Depot during the 2nd quarter valued at approximately $7,703,690,000. Finally, Imprint Wealth LLC increased its stake in Home Depot by 30,994.4% in the 2nd quarter. Imprint Wealth LLC now owns 2,413,234 shares of the home improvement retailer’s stock worth $241,323,000 after acquiring an additional 2,405,473 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Home Depot (NYSE:HD)

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