Evercore ISI Boosts Home Depot (NYSE:HD) Price Target to $420.00

Home Depot (NYSE:HDFree Report) had its target price lifted by Evercore ISI from $415.00 to $420.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the home improvement retailer’s stock.

HD has been the topic of several other research reports. HSBC reiterated a reduce rating and set a $323.00 target price on shares of Home Depot in a research report on Wednesday, April 3rd. Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a buy rating in a research report on Monday, April 1st. Citigroup reduced their price objective on shares of Home Depot from $415.00 to $395.00 and set a buy rating for the company in a research note on Tuesday, May 7th. TD Cowen upped their target price on shares of Home Depot from $415.00 to $440.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Finally, Truist Financial reiterated a buy rating and set a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $377.46.

Read Our Latest Research Report on HD

Home Depot Trading Up 0.4 %

NYSE:HD opened at $344.21 on Tuesday. The company has a market capitalization of $341.12 billion, a PE ratio of 23.09, a P/E/G ratio of 2.30 and a beta of 1.01. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87. The stock’s 50 day moving average price is $354.88 and its 200 day moving average price is $346.17. The company has a quick ratio of 0.40, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.82 EPS. On average, research analysts anticipate that Home Depot will post 15.3 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its holdings in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Home Depot by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after acquiring an additional 347,614 shares during the period. Norges Bank bought a new position in shares of Home Depot in the fourth quarter valued at approximately $4,311,070,000. Northern Trust Corp boosted its holdings in shares of Home Depot by 1.3% in the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Home Depot by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after purchasing an additional 195,670 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

About Home Depot

(Get Free Report)

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.

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