Home Depot (NYSE:HD) Trading 1.2% Higher on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report) rose 1.2% during trading on Tuesday 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 $421.56 and last traded at $420.24. Approximately 640,447 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 3,369,126 shares. The stock had previously closed at $415.42.

A number of other analysts also recently commented on HD. Stifel Nicolaus decreased their price objective on shares of Home Depot from $380.00 to $375.00 and set a "hold" rating on the stock in a report on Wednesday, August 14th. Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They set a "buy" rating and a $420.00 price objective on the stock. Loop Capital raised shares of 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 report on Wednesday, October 9th. Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a "buy" rating in a report on Friday, October 4th. Finally, Daiwa America raised shares of Home Depot to a "hold" rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned 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.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer's stock worth $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Empirical Finance LLC increased its position in shares of Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer's stock worth $14,242,000 after acquiring an additional 1,195 shares in the last quarter. Commonwealth Retirement Investments LLC increased its position in shares of Home Depot by 5.5% in the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer's stock worth $7,146,000 after acquiring an additional 965 shares in the last quarter. Leeward Financial Partners LLC increased its position in shares of Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer's stock worth $4,001,000 after acquiring an additional 711 shares in the last quarter. Finally, Johnson & White Wealth Management LLC increased its position in shares of Home Depot by 6.2% in the first quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer's stock worth $1,611,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Up 0.1 %

The firm's 50-day moving average price is $380.90 and its 200-day moving average price is $357.37. The company has a market cap of $412.35 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $42.57 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, August 29th. Home Depot's dividend payout ratio (DPR) is 60.36%.

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.