Home Depot (NYSE:HD) Price Target Raised to $301.00

Share on StockTwits

Home Depot (NYSE:HD) had its price target boosted by Goldman Sachs Group from $265.00 to $301.00 in a research report released on Tuesday, AnalystRatings.com reports. The firm currently has a buy rating on the home improvement retailer’s stock.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of Home Depot from $261.00 to $266.00 in a research report on Wednesday, May 20th. Robert W. Baird lifted their price objective on shares of Home Depot from $275.00 to $300.00 and gave the stock an outperform rating in a research report on Thursday, August 13th. DA Davidson initiated coverage on shares of Home Depot in a research report on Friday, August 14th. They issued a neutral rating and a $290.00 price objective on the stock. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a buy rating and issued a $300.00 price objective on shares of Home Depot in a research report on Monday. Finally, Piper Sandler lifted their price objective on shares of Home Depot from $231.00 to $236.00 and gave the stock a neutral rating in a research report on Friday, May 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $286.33.

Shares of Home Depot stock traded down $1.52 during trading hours on Tuesday, reaching $279.16. The company’s stock had a trading volume of 132,796 shares, compared to its average volume of 3,127,441. The stock’s fifty day simple moving average is $263.80 and its two-hundred day simple moving average is $233.96. Home Depot has a one year low of $140.63 and a one year high of $290.58. The company has a market capitalization of $304.22 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.24 and a beta of 1.06.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same period last year, the firm earned $3.17 earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. As a group, equities analysts forecast that Home Depot will post 10.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 2.15%. Home Depot’s dividend payout ratio is presently 58.54%.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Home Depot by 6.7% in the second quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after purchasing an additional 5,714,595 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Home Depot by 28.6% in the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after purchasing an additional 4,690,072 shares during the period. Advisor Group Holdings Inc. purchased a new stake in shares of Home Depot in the 1st quarter worth about $77,291,000. Wellington Management Group LLP lifted its position in shares of Home Depot by 18.8% in the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after purchasing an additional 3,515,402 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Home Depot by 99.8% in the 2nd quarter. Nordea Investment Management AB now owns 3,158,138 shares of the home improvement retailer’s stock worth $780,250,000 after purchasing an additional 1,577,704 shares during the period. Hedge funds and other institutional investors own 69.65% of the company’s stock.

Home Depot Company Profile

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.

Featured Article: Management Fee

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