Home Depot (NYSE:HD) Shares Up 0.7% After Analyst Upgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price rose 0.7% during trading on Wednesday after Truist Financial raised their price target on the stock from $391.00 to $393.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $363.30 and last traded at $361.97. Approximately 759,363 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,439,209 shares. The stock had previously closed at $359.38.

HD has been the topic of a number of other reports. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Morgan Stanley reduced their target price on shares of Home Depot from $450.00 to $410.00 and set an "overweight" rating on the stock in a report on Monday. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $430.12.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its position in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank acquired a new stake in Home Depot during the fourth quarter worth approximately $5,032,910,000. Finally, Capital Research Global Investors boosted its holdings in shares of Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after buying an additional 647,552 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 0.9 %

The company has a market cap of $360.46 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm's 50 day moving average price is $359.78 and its two-hundred day moving average price is $389.58. 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 (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. Home Depot's dividend payout ratio is 61.66%.

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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