Melius Research Initiates Coverage on Home Depot (NYSE:HD)

Analysts at Melius Research assumed coverage on shares of Home Depot (NYSE:HD) in a research note issued to investors on Monday, Benzinga reports. The firm set a “buy” rating and a $420.00 price target on the home improvement retailer’s stock. Melius Research’s price target indicates a potential upside of 4.75% from the stock’s current price.

A number of other equities analysts have also recently commented on HD. Stifel Nicolaus reduced their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. DA Davidson upped their price target on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Finally, UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $391.88.

Home Depot Stock Performance

Shares of HD stock opened at $400.95 on Monday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $397.59 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The stock has a 50-day moving average of $366.26 and a 200-day moving average of $354.42. Home Depot has a one year low of $274.26 and a one year high of $401.11.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Home Depot will post 15.01 earnings per share for the current year.

Institutional Investors Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the business. Ruedi Wealth Management Inc. raised its holdings in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the last quarter. Acorn Creek Capital LLC raised its stake in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after acquiring an additional 28 shares during the last quarter. STAR Financial Bank raised its stake in Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after acquiring an additional 29 shares during the last quarter. Talisman Wealth Advisors LLC lifted its position in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares during the period. Finally, LMG Wealth Partners LLC grew its stake in Home Depot by 1.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

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.