Credit Suisse Group Reiterates “Buy” Rating for Home Depot (NYSE:HD)

Share on StockTwits

Credit Suisse Group reissued their buy rating on shares of Home Depot (NYSE:HD) in a research report report published on Monday morning, Borsen Zeitung reports. The firm currently has a $300.00 price objective on the home improvement retailer’s stock.

Several other research analysts have also commented on HD. Piper Sandler raised their price objective on shares of Home Depot from $231.00 to $236.00 and gave the company a neutral rating in a research note on Friday, May 15th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Home Depot from $260.00 to $276.00 and gave the stock a buy rating in a research report on Wednesday, June 17th. Loop Capital boosted their price objective on shares of Home Depot from $235.00 to $265.00 and gave the stock a buy rating in a research report on Wednesday, May 20th. CSFB boosted their price objective on shares of Home Depot from $215.00 to $255.00 and gave the stock an outperform rating in a research report on Wednesday, May 20th. Finally, Oppenheimer began coverage on shares of Home Depot in a research report on Friday, July 10th. They set a buy rating and a $274.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Home Depot currently has a consensus rating of Buy and a consensus price target of $286.33.

Shares of NYSE HD opened at $280.00 on Monday. The firm has a 50-day simple moving average of $263.80 and a 200-day simple moving average of $233.96. The stock has a market capitalization of $304.22 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. Home Depot has a 52 week low of $140.63 and a 52 week high of $290.58.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 earnings per share. Equities research analysts expect that Home Depot will post 10.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, September 2nd. Home Depot’s dividend payout ratio is currently 58.54%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Home Depot by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after buying an additional 5,714,595 shares in the last quarter. Wellington Management Group LLP raised its holdings in Home Depot by 18.8% during the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock valued at $4,155,141,000 after acquiring an additional 3,515,402 shares during the period. Capital Research Global Investors raised its holdings in Home Depot by 28.6% during the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock valued at $3,934,286,000 after acquiring an additional 4,690,072 shares during the period. FMR LLC raised its holdings in Home Depot by 2.4% during the 2nd quarter. FMR LLC now owns 19,084,248 shares of the home improvement retailer’s stock valued at $4,780,796,000 after acquiring an additional 441,321 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Home Depot by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock valued at $3,160,862,000 after acquiring an additional 191,403 shares during the period. Institutional investors and hedge funds own 69.65% of the company’s stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Read More: Are sell-side analysts objective?

Analyst Recommendations for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply