Home Depot (NYSE:HD) Upgraded by HSBC to “Hold” Rating

HSBC upgraded shares of Home Depot (NYSE:HD) from a reduce rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $410.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $356.00.

A number of other research analysts also recently weighed in on HD. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Truist Financial raised their price objective on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $390.40 on Wednesday. The firm has a 50 day moving average of $401.17 and a 200-day moving average of $398.42. The company has a market cap of $387.81 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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 net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the company posted $2.82 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.36%. Home Depot’s payout ratio is currently 61.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Yoffe Investment Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $865,000. LifeWealth Investments LLC bought a new position in Home Depot during the fourth quarter valued at $397,000. Capital A Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth $180,000. LM Advisors LLC raised its stake in shares of Home Depot by 111.6% in the fourth quarter. LM Advisors LLC now owns 5,095 shares of the home improvement retailer’s stock valued at $1,982,000 after buying an additional 2,687 shares during the period. Finally, Lakeshore Capital Group Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at $658,000. 70.86% of the stock is owned by institutional investors.

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.