Home Depot (NYSE:HD) Shares Up 0.5% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report) rose 0.5% during trading on Monday after Truist Financial raised their price target on the stock from $395.00 to $455.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $414.15 and last traded at $413.78. Approximately 294,867 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,373,848 shares. The stock had previously closed at $411.90.

A number of other research firms have also commented on HD. Loop Capital upgraded shares of Home Depot from a "hold" rating to a "buy" rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Oppenheimer boosted their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 24th. Royal Bank of Canada dropped their price target on shares of Home Depot from $377.00 to $363.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 14th. Gordon Haskett upgraded shares of Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus dropped their price target on shares of 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.69.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. increased its position in shares of Home Depot by 5.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 61,296 shares of the home improvement retailer's stock worth $21,242,000 after acquiring an additional 3,035 shares in the last quarter. Scarborough Advisors LLC boosted its stake 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 valued at $600,000 after purchasing an additional 71 shares during the period. Pineridge Advisors LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $519,000. ARK & TLK Investments LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $225,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $398,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Up 0.9 %

The firm has a market capitalization of $412.27 billion, a PE ratio of 27.86, a P/E/G ratio of 2.88 and a beta of 1.00. The firm's 50 day moving average price is $378.34 and its two-hundred day moving average price is $356.92. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS 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 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the firm posted $4.65 EPS. The firm's revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. Home Depot's payout ratio is currently 60.36%.

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.