Home Depot (NYSE:HD) Trading 0.7% Higher After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price was up 0.7% during trading on Tuesday after Barclays raised their price target on the stock from $372.00 to $420.00. Barclays currently has an overweight rating on the stock. Home Depot traded as high as $398.50 and last traded at $398.31. Approximately 344,586 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 3,337,670 shares. The stock had previously closed at $395.57.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Loop Capital raised shares of Home Depot from a "hold" rating to a "buy" rating and boosted their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Gordon Haskett raised Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. Finally, DA Davidson raised their price objective on Home Depot from $430.00 to $466.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $415.26.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer's stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Wulff Hansen & CO. boosted its position in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer's stock worth $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of Home Depot in the 1st quarter valued at $513,016,000. Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer's stock valued at $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Home Depot during the 1st quarter worth $301,364,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 1.1 %

The business has a 50 day simple moving average of $392.94 and a 200-day simple moving average of $362.47. The stock has a market capitalization of $397.41 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.72 and a beta of 1.01. 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 results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts' expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.65 earnings per share. As a group, equities analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

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

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.