Analysts Set The Home Depot, Inc. (NYSE:HD) Price Target at $430.32

Shares of The Home Depot, Inc. (NYSE:HD) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $426.77.

A number of research firms have recently commented on HD. Royal Bank of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho lowered their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $425.00 in a research note on Wednesday.

Home Depot Price Performance

HD opened at $363.17 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $361.00 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 4.03 and a beta of 1.05. The firm’s fifty day moving average price is $359.90 and its two-hundred day moving average price is $387.20. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 earnings per share. As a group, analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock worth $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Geode Capital Management LLC boosted its stake in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth approximately $5,032,910,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.