Home Depot (NYSE:HD) Given New $417.00 Price Target at Truist Financial

Home Depot (NYSE:HD) had its target price lifted by Truist Financial from $393.00 to $417.00 in a research note published on Tuesday morning. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

Several other research analysts have also weighed in on the company. Robert W. Baird reduced their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $424.60.

Home Depot Price Performance

Home Depot stock opened at $376.84 on Tuesday. The business’s 50-day simple moving average is $358.99 and its 200 day simple moving average is $387.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $374.59 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 EPS. As a group, research analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Planning Services Inc. LA ADV raised its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares in the last quarter. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC raised its holdings in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares during the period. Raymond James Financial Inc. acquired a new stake in Home Depot in the 4th quarter valued at about $2,212,546,000. Finally, Nuveen LLC acquired a new stake in Home Depot in the 1st quarter valued at about $2,076,592,000. 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.