Home Depot (NYSE:HD) Raised to Buy at Stifel Nicolaus

Home Depot (NYSE:HD) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $425.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $405.00. Stifel Nicolaus’ price objective points to a potential upside of 16.14% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. DA Davidson lowered their price target on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday. Morgan Stanley increased their price target on shares of Home Depot from $410.00 to $415.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $427.92.

Home Depot Price Performance

NYSE HD opened at $365.95 on Wednesday. The company has a market cap of $363.77 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm’s 50-day simple moving average is $359.62 and its two-hundred day simple moving average is $387.46.

Home Depot (NYSE:HD) last released its quarterly earnings data 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 business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. Research analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $32,000. Finally, Abound Financial LLC bought a new position in shares of Home Depot in the first quarter worth approximately $31,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Company Profile

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.