Home Depot (NYSE:HD) Earns “Overweight” Rating from Morgan Stanley

Home Depot (NYSE:HDGet Free Report)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $415.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $410.00. Morgan Stanley’s price target suggests a potential upside of 13.40% from the stock’s current price.

A number of other brokerages have also recently issued reports on HD. DA Davidson dropped their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Check Out Our Latest Stock Analysis on HD

Home Depot Price Performance

NYSE HD opened at $365.95 on Tuesday. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. 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 has a market capitalization of $363.77 billion, a PE ratio of 24.86, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50-day simple moving average of $359.62 and a 200 day simple moving average of $387.46.

Home Depot (NYSE:HDGet Free Report) last posted its quarterly 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). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.63 EPS. Research analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the business. K.J. Harrison & Partners Inc grew its holdings in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares during the period. Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $409,000. JPL Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $3,193,000. Finally, Umpqua Bank raised its position in Home Depot by 26.5% during the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock valued at $2,425,000 after purchasing an additional 1,294 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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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