The Home Depot, Inc. (NYSE:HD) Receives $430.32 Consensus Target Price from Brokerages

Shares of The Home Depot, Inc. (NYSE:HD) have been assigned an average recommendation of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $427.92.

Several research analysts have weighed in on HD shares. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Jefferies Financial Group dropped their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday. TD Securities reissued a “buy” rating and issued a $470.00 target price on shares of Home Depot in a research report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Home Depot from $410.00 to $415.00 and gave the company an “overweight” rating in a report on Tuesday.

Home Depot Trading Down 1.7%

Shares of HD opened at $370.71 on Monday. The business’s 50-day moving average price is $359.38 and its 200 day moving average price is $387.66. 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 stock has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a P/E/G 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.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.48%. 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 is 61.66%.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter valued at $28,000. Navigoe LLC acquired a new position in Home Depot in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Finally, Abound Financial LLC purchased a new position in Home Depot during the first quarter valued at $31,000. 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.