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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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