Home Depot’s (HD) Buy Rating Reiterated at Guggenheim

Home Depot (NYSE:HD)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They currently have a $450.00 price target on the home improvement retailer’s stock. Guggenheim’s target price points to a potential upside of 15.25% from the stock’s current price.

Several other equities analysts have also commented on HD. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday. Finally, Truist Financial cut their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

Shares of HD stock opened at $390.44 on Wednesday. The company has a market capitalization of $387.85 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The company’s 50-day simple moving average is $401.27 and its two-hundred day simple moving average is $398.37. Home Depot has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Institutional Investors Weigh In On Home Depot

Large investors have recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new stake in Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is owned by hedge funds and other 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.