Home Depot (NYSE:HD) Stock Price Expected to Rise, Mizuho Analyst Says

Home Depot (NYSE:HD) had its price target lifted by Mizuho from $435.00 to $440.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the home improvement retailer’s stock.

A number of other analysts also recently weighed in on HD. Jefferies Financial Group assumed coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Guggenheim upped their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. DA Davidson boosted their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Oppenheimer lifted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $409.76 on Wednesday. The company has a 50 day moving average of $397.67 and a 200-day moving average of $365.56. The company has a market cap of $407.01 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. Home Depot has a 1-year low of $302.34 and a 1-year high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the company posted $3.81 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that Home Depot will post 14.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwest & Ethical Investments L.P. increased its holdings in shares of Home Depot by 186.6% in the third quarter. Northwest & Ethical Investments L.P. now owns 6,605 shares of the home improvement retailer’s stock worth $2,676,000 after buying an additional 4,300 shares during the period. Financial Counselors Inc. increased its stake in shares of Home Depot by 2.6% in the third quarter. Financial Counselors Inc. now owns 141,186 shares of the home improvement retailer’s stock worth $57,209,000 after buying an additional 3,566 shares during the period. Noesis Capital Mangement Corp boosted its position in Home Depot by 35.7% during the 3rd quarter. Noesis Capital Mangement Corp now owns 2,407 shares of the home improvement retailer’s stock valued at $975,000 after buying an additional 633 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Home Depot by 5.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Home Depot by 342.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 168,139 shares of the home improvement retailer’s stock worth $68,130,000 after buying an additional 130,100 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.