Truist Financial Raises Home Depot (NYSE:HD) Price Target to $455.00

Home Depot (NYSE:HD - Get Free Report) had its price target increased by equities researchers at Truist Financial from $395.00 to $455.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the home improvement retailer's stock. Truist Financial's target price suggests a potential upside of 9.44% from the company's previous close.

Several other brokerages have also recently issued reports on HD. Daiwa America raised Home Depot to a "hold" rating in a research report on Thursday, August 15th. Gordon Haskett raised shares of Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price objective on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their target price 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. Guggenheim boosted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Finally, Oppenheimer increased their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a "market perform" rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $404.69.

Home Depot Stock Up 0.9 %

HD stock traded up $3.86 during midday trading on Monday, reaching $415.76. 2,088,342 shares of the company's stock traded hands, compared to its average volume of 3,382,905. 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 firm's fifty day moving average price is $378.34 and its 200-day moving average price is $356.92. Home Depot has a 52 week low of $274.26 and a 52 week high of $420.03. The company has a market cap of $412.27 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently bought and sold shares of HD. Scarborough Advisors LLC increased its position in shares of Home Depot by 4.3% in the fourth quarter. Scarborough Advisors LLC now owns 1,731 shares of the home improvement retailer's stock worth $600,000 after purchasing an additional 71 shares during the last quarter. Spartan Planning & Wealth Management raised its position in shares of Home Depot by 38.5% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,764 shares of the home improvement retailer's stock valued at $611,000 after buying an additional 490 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Home Depot during the 4th quarter worth $863,000. MONECO Advisors LLC grew its position in Home Depot by 2.3% in the fourth quarter. MONECO Advisors LLC now owns 3,202 shares of the home improvement retailer's stock worth $1,110,000 after acquiring an additional 71 shares in the last quarter. Finally, Yeomans Consulting Group Inc. purchased a new position in Home Depot in the fourth quarter worth $1,567,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

About Home Depot

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.