Home Depot (NYSE:HD) Upgraded to “Buy” by Truist Financial

Truist Financial upgraded shares of Home Depot (NYSE:HD) from a hold rating to a buy rating in a report released on Thursday, Price Targets.com reports. The brokerage currently has $448.00 price target on the home improvement retailer’s stock, up from their previous price target of $420.00.

Several other analysts have also recently commented on HD. Truist upped their target price on Home Depot from $325.00 to $420.00 and gave the company a hold rating in a report on Wednesday, November 17th. They noted that the move was a valuation call. Robert W. Baird upped their target price on Home Depot from $360.00 to $425.00 and gave the company an outperform rating in a report on Tuesday, November 16th. Zacks Investment Research upgraded Home Depot from a hold rating to a buy rating and set a $376.00 target price on the stock in a report on Tuesday, October 19th. Wells Fargo & Company increased their price target on Home Depot from $420.00 to $460.00 in a report on Wednesday, January 5th. Finally, Wedbush increased their price target on Home Depot from $340.00 to $410.00 and gave the stock a neutral rating in a report on Wednesday, November 17th. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of Buy and an average target price of $419.16.

Shares of Home Depot stock traded down $12.92 on Thursday, hitting $374.06. The stock had a trading volume of 172,809 shares, compared to its average volume of 3,697,643. The stock has a 50 day moving average of $398.48 and a 200 day moving average of $356.74. Home Depot has a twelve month low of $246.59 and a twelve month high of $420.61. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.37 and a current ratio of 1.13. The firm has a market capitalization of $390.61 billion, a P/E ratio of 25.64, a PEG ratio of 2.06 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 16th. The home improvement retailer reported $3.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.41 by $0.51. Home Depot had a return on equity of 786.90% and a net margin of 10.79%. The business had revenue of $36.82 billion for the quarter, compared to analysts’ expectations of $34.87 billion. During the same period in the prior year, the business posted $3.18 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Home Depot will post 15.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Thursday, December 2nd were given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Wednesday, December 1st. Home Depot’s payout ratio is currently 44.12%.

In other news, EVP Teresa Wynn Roseborough sold 18,878 shares of the firm’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $395.19, for a total transaction of $7,460,396.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard V. Mcphail sold 14,544 shares of the firm’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $392.83, for a total value of $5,713,319.52. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Core Alternative Capital bought a new position in shares of Home Depot during the 3rd quarter worth $29,000. Activest Wealth Management bought a new position in shares of Home Depot during the 2nd quarter worth $34,000. Strategic Asset Management LLC bought a new position in shares of Home Depot during the 3rd quarter worth $41,000. Future Financial Wealth Managment LLC bought a new position in Home Depot in the 4th quarter worth about $90,000. Finally, Bell Investment Advisors Inc bought a new position in Home Depot in the 3rd quarter worth about $84,000. 69.53% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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Analyst Recommendations for Home Depot (NYSE:HD)

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