Truist Financial Boosts Home Depot (NYSE:HD) Price Target to $455.00

Home Depot (NYSE:HD) had its price target boosted by Truist Financial from $395.00 to $455.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

A number of other brokerages also recently issued reports on HD. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. DA Davidson raised their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Trading Up 0.7 %

Shares of NYSE:HD opened at $418.61 on Monday. The company has a market capitalization of $415.10 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.88 and a beta of 1.00. Home Depot has a 1 year low of $274.26 and a 1 year high of $421.56. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business’s 50 day simple moving average is $382.42 and its 200 day simple moving average is $357.80.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 earnings per share. On average, research analysts anticipate that Home Depot will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.15%. Home Depot’s dividend payout ratio is presently 60.36%.

Institutional Trading of Home Depot

Several large investors have recently made changes to their positions in the company. TruWealth Advisors LLC boosted its stake in Home Depot by 2.5% during the 3rd quarter. TruWealth Advisors LLC now owns 6,520 shares of the home improvement retailer’s stock valued at $2,642,000 after purchasing an additional 157 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in Home Depot during the 3rd quarter valued at about $224,000. Vista Investment Partners LLC boosted its stake in Home Depot by 0.5% during the 3rd quarter. Vista Investment Partners LLC now owns 11,572 shares of the home improvement retailer’s stock valued at $4,689,000 after purchasing an additional 58 shares during the last quarter. Drake & Associates LLC boosted its stake in Home Depot by 61.3% during the 3rd quarter. Drake & Associates LLC now owns 1,255 shares of the home improvement retailer’s stock valued at $509,000 after purchasing an additional 477 shares during the last quarter. Finally, Marshall Financial Group LLC boosted its stake in Home Depot by 9.4% during the 3rd quarter. Marshall Financial Group LLC now owns 2,451 shares of the home improvement retailer’s stock valued at $993,000 after purchasing an additional 211 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.