Mizuho Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price objective hoisted by Mizuho from $435.00 to $440.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Several other equities research analysts also recently weighed in on the company. DA Davidson increased their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Truist Financial increased their price objective on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of HD stock traded up $2.46 during trading hours on Wednesday, hitting $408.18. The stock had a trading volume of 3,239,545 shares, compared to its average volume of 3,381,447. The firm has a market capitalization of $405.44 billion, a PE ratio of 27.73, a PEG ratio of 2.83 and a beta of 1.01. Home Depot has a twelve month low of $302.34 and a twelve month high of $421.56. The stock’s 50 day moving average is $399.51 and its 200 day moving average is $366.34. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.81 earnings per share. As a group, research analysts forecast that Home Depot will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in HD. Fairway Wealth LLC acquired a new position in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the 3rd quarter valued at $46,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.