Home Depot (NYSE:HD) Stock Price Expected to Rise, Barclays Analyst Says

Home Depot (NYSE:HD) had its price objective lifted by Barclays from $372.00 to $420.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Other analysts have also issued reports about the company. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. 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 research note on Friday, October 4th. Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. UBS Group boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, DA Davidson increased their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Stock Performance

Home Depot stock traded up $3.63 during midday trading on Tuesday, reaching $403.07. The stock had a trading volume of 1,053,529 shares, compared to its average volume of 3,359,092. The firm’s 50-day moving average price is $393.80 and its 200 day moving average price is $363.10. Home Depot has a 12 month low of $286.79 and a 12 month high of $421.56. 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 has a market capitalization of $400.37 billion, a PE ratio of 27.18, a P/E/G ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 733.61%. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business earned $4.65 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter valued at about $33,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the 3rd quarter worth approximately $46,000. Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.