Home Depot (NYSE:HD) Price Target Raised to $430.00 at Wells Fargo & Company

Home Depot (NYSE:HD - Free Report) had its target price increased by Wells Fargo & Company from $400.00 to $430.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the home improvement retailer's stock.

Several other equities research analysts have also recently issued reports on HD. DA Davidson boosted their price target on Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Truist Financial raised their price target on Home Depot from $395.00 to $455.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Telsey Advisory Group reiterated a "market perform" rating and set a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Stifel Nicolaus cut their price target on shares of Home Depot from $380.00 to $375.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Finally, Jefferies Financial Group started coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a "buy" rating and a $426.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $416.37.

Home Depot Stock Down 3.0 %

NYSE HD traded down $11.90 on Wednesday, reaching $388.19. The company had a trading volume of 7,129,534 shares, compared to its average volume of 3,364,879. The company's fifty day moving average is $393.80 and its 200-day moving average is $363.10. The firm has a market capitalization of $385.59 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. Home Depot has a 1-year low of $286.79 and a 1-year high of $421.56.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, August 29th. Home Depot's payout ratio is 60.57%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC purchased a new stake in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at approximately $33,000. Denver PWM LLC bought a new position in Home Depot in the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the 2nd quarter valued at $47,000. 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.