Telsey Advisory Group Reiterates "Outperform" Rating for Home Depot (NYSE:HD)

Telsey Advisory Group reaffirmed their outperform rating on shares of Home Depot (NYSE:HD - Free Report) in a report published on Tuesday,Benzinga reports. The firm currently has a $455.00 price target on the home improvement retailer's stock.

A number of other research firms have also weighed in on HD. Morgan Stanley cut their price objective on Home Depot from $450.00 to $410.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada dropped their target price on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.92.

Home Depot Trading Down 1.7%

NYSE:HD traded down $6.34 during trading hours on Tuesday, reaching $370.71. 3,965,127 shares of the stock were exchanged, compared to its average volume of 3,436,754. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a 50-day moving average of $359.38 and a two-hundred day moving average of $387.66. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market capitalization of $368.50 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company earned $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. Home Depot's dividend payout ratio is 61.66%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently made changes to their positions in the business. Wealth Group Ltd. lifted its position in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock valued at $219,000 after purchasing an additional 27 shares during the period. Tallon Kerry Patrick acquired a new stake in Home Depot in the fourth quarter valued at about $281,000. Capital & Planning LLC lifted its position in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer's stock valued at $418,000 after purchasing an additional 563 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Home Depot in the fourth quarter valued at about $634,000. Finally, Stillwater Capital Advisors LLC lifted its position in Home Depot by 1.0% in the fourth quarter. Stillwater Capital Advisors LLC now owns 50,798 shares of the home improvement retailer's stock valued at $19,760,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds 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.