Evercore ISI Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD - Free Report) had its price target hoisted by Evercore ISI from $420.00 to $430.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the home improvement retailer's stock.

A number of other brokerages have also recently commented on HD. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on Home Depot from $400.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Oppenheimer boosted their price target on Home Depot from $345.00 to $400.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They issued a "buy" rating and a $426.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $426.00.

Home Depot Stock Up 1.8 %

Home Depot stock traded up $7.31 during trading hours on Wednesday, hitting $410.39. 3,081,476 shares of the stock traded hands, compared to its average volume of 3,382,354. The firm's 50-day moving average price is $396.76 and its two-hundred day moving average price is $365.25. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The company has a market cap of $407.64 billion, a PE ratio of 27.83, a PEG ratio of 2.79 and a beta of 1.01. Home Depot has a one year low of $300.14 and a one year high of $421.56.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts' expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.81 EPS. On average, research analysts forecast that Home Depot will post 14.99 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. Home Depot's dividend payout ratio (DPR) is 61.14%.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. WFA Asset Management Corp boosted its holdings in Home Depot by 10.7% in the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer's stock worth $535,000 after buying an additional 135 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Home Depot by 5.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer's stock worth $4,381,000 after buying an additional 623 shares during the period. Brighton Jones LLC boosted its holdings in shares of Home Depot by 1.3% during the 1st quarter. Brighton Jones LLC now owns 22,321 shares of the home improvement retailer's stock valued at $8,562,000 after purchasing an additional 286 shares during the last quarter. Great Lakes Retirement Inc. boosted its holdings in shares of Home Depot by 1.3% during the 1st quarter. Great Lakes Retirement Inc. now owns 5,498 shares of the home improvement retailer's stock valued at $2,109,000 after purchasing an additional 73 shares during the last quarter. Finally, GM Advisory Group LLC boosted its holdings in shares of Home Depot by 1.8% during the 1st quarter. GM Advisory Group LLC now owns 5,169 shares of the home improvement retailer's stock valued at $1,983,000 after purchasing an additional 93 shares during the last quarter. 70.86% of the stock is currently 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.