Home Depot (NYSE:HD) PT Raised to $466.00 at DA Davidson

Home Depot (NYSE:HD - Get Free Report) had its price objective upped by DA Davidson from $430.00 to $466.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the home improvement retailer's stock. DA Davidson's target price would suggest a potential upside of 16.80% from the company's current price.

Other equities research analysts have also issued research reports about the company. Loop Capital upgraded Home Depot from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They set a "buy" rating and a $420.00 target price on the stock. UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Finally, Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. One investment 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 data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $412.00.

Home Depot Price Performance

Shares of HD traded down $3.71 during mid-day trading on Friday, reaching $398.97. The company had a trading volume of 1,940,903 shares, compared to its average volume of 3,363,401. The company's 50 day simple moving average is $389.08 and its 200 day simple moving average is $359.73. The company has a market capitalization of $395.62 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.88 and a beta of 1.00. Home Depot has a 1-year low of $274.26 and a 1-year high of $421.56. 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 (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. Analysts expect that Home Depot will post 15.01 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently modified their holdings of HD. Abacus Wealth Partners LLC increased its stake in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer's stock worth $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer's stock worth $1,469,000 after buying an additional 25 shares during the period. Ruedi Wealth Management Inc. increased its position in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer's stock valued at $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC increased its position in shares of Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer's stock valued at $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp increased its position in shares of Home Depot by 1.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer's stock valued at $617,000 after purchasing an additional 28 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

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.