Home Depot (NYSE:HD) Earns “Buy” Rating from Guggenheim

Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by equities researchers at Guggenheim in a report released on Wednesday,Benzinga reports. They currently have a $450.00 price target on the home improvement retailer’s stock. Guggenheim’s price objective would suggest a potential upside of 13.07% from the company’s current price.

Other research analysts also recently issued research reports about the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Mizuho upped their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Finally, Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned 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 $437.12.

Home Depot Price Performance

Shares of HD stock traded up $4.69 during trading hours on Wednesday, hitting $397.98. The company’s stock had a trading volume of 1,486,926 shares, compared to its average volume of 3,203,814. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business has a fifty day moving average of $401.23 and a 200-day moving average of $398.48. The stock has a market cap of $395.34 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Institutional Trading of Home Depot

A number of institutional investors have recently bought and sold shares of HD. Vanguard Group Inc. grew its position in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth $5,032,910,000. Capital Research Global Investors raised its position in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after acquiring an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.