Home Depot (NYSE:HD) Upgraded to Buy at Stifel Nicolaus

Home Depot (NYSE:HD - Get Free Report) was upgraded by Stifel Nicolaus from a "hold" rating to a "buy" rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $425.00 target price on the home improvement retailer's stock. Stifel Nicolaus' price target points to a potential upside of 12.82% from the stock's current price.

HD has been the subject of a number of other research reports. Wedbush reiterated an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. DA Davidson lowered their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday. Royal Bank of Canada reduced their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Finally, Jefferies Financial Group lowered their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $428.00.

Home Depot Price Performance

Shares of NYSE:HD opened at $376.71 on Wednesday. The company has a market cap of $374.46 billion, a PE ratio of 25.54, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a 50-day simple moving average of $358.99 and a 200 day simple moving average of $387.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in HD. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock worth $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. lifted its holdings in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after buying an additional 24 shares during the period. Marino Stram & Associates LLC lifted its holdings in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock worth $431,000 after buying an additional 25 shares during the period. Live Oak Private Wealth LLC increased its holdings in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after acquiring an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC increased its holdings in shares of Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

About Home Depot

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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