Home Depot (NYSE:HD) Shares Up 2.3% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price was up 2.3% during trading on Thursday after Truist Financial raised their price target on the stock from $455.00 to $459.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $397.52 and last traded at $397.43. Approximately 744,519 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,353,199 shares. The stock had previously closed at $388.37.

Several other brokerages have also weighed in on HD. Daiwa America upgraded shares of Home Depot to a "hold" rating in a report on Thursday, August 15th. TD Cowen raised their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a report on Monday, October 28th. DA Davidson boosted their target price on Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Finally, Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a "hold" rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $416.52.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lindenwold Advisors INC increased its holdings in shares of Home Depot by 1.0% in the third quarter. Lindenwold Advisors INC now owns 5,895 shares of the home improvement retailer's stock worth $2,389,000 after purchasing an additional 58 shares during the last quarter. Aviance Capital Partners LLC increased its stake in Home Depot by 0.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 12,717 shares of the home improvement retailer's stock worth $5,154,000 after acquiring an additional 46 shares during the last quarter. Baron Wealth Management LLC purchased a new stake in shares of Home Depot during the 3rd quarter worth approximately $316,000. New England Asset Management Inc. boosted its position in shares of Home Depot by 0.7% during the 3rd quarter. New England Asset Management Inc. now owns 12,064 shares of the home improvement retailer's stock valued at $4,888,000 after acquiring an additional 85 shares during the last quarter. Finally, Joseph Group Capital Management increased its position in Home Depot by 18.0% in the third quarter. Joseph Group Capital Management now owns 10,923 shares of the home improvement retailer's stock worth $4,426,000 after purchasing an additional 1,668 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Up 2.8 %

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 stock's 50 day moving average is $393.80 and its 200-day moving average is $363.10. The company has a market cap of $396.73 billion, a PE ratio of 26.86, a P/E/G ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts' consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $43.18 billion for the quarter, compared to analysts' expectations of $42.57 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The business's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. Home Depot's dividend payout ratio is presently 60.57%.

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.