Home Depot (NYSE:HD) Given "Buy" Rating at Guggenheim

Home Depot (NYSE:HD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Guggenheim in a research note issued on Wednesday,Benzinga reports. They currently have a $450.00 target price on the home improvement retailer's stock. Guggenheim's price target would indicate a potential upside of 19.41% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday. Truist Financial raised their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and boosted their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein increased their price target on Home Depot from $380.00 to $398.00 and gave the stock a "market perform" rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $425.32.

Home Depot Price Performance

HD stock opened at $376.84 on Wednesday. The company has a market capitalization of $374.59 billion, a P/E ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day moving average price of $358.99 and a 200-day moving average price of $387.78. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter worth about $28,000. Navigoe LLC bought a new stake in Home Depot in the 4th quarter worth about $29,000. Abound Financial LLC purchased a new stake in Home Depot in the 1st quarter valued at about $31,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Company Profile

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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