Home Depot (NYSE:HD) Stock Price Expected to Rise, Truist Financial Analyst Says

Home Depot (NYSE:HD - Free Report) had its target price hoisted by Truist Financial from $455.00 to $459.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the home improvement retailer's stock.

Several other analysts have also recently issued reports on the company. Loop Capital upgraded Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Gordon Haskett raised Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a "buy" rating and a $426.00 target price on the stock. Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They issued a "market perform" rating and a $451.00 target price on the stock. Finally, UBS Group increased their target price on Home Depot from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $416.52.

Home Depot Trading Up 2.8 %

NYSE:HD traded up $11.04 during trading hours on Thursday, reaching $399.41. 4,320,431 shares of the stock were exchanged, compared to its average volume of 3,369,499. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business has a 50-day moving average of $393.80 and a two-hundred day moving average of $363.10. Home Depot has a twelve month low of $286.79 and a twelve month high of $421.56. The company has a market capitalization of $396.73 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts' consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analysts' expectations of $42.57 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Home Depot will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot's dividend payout ratio (DPR) is 60.57%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $47,000. 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.