Analysts Set The Home Depot, Inc. (NYSE:HD) Target Price at $366.48

The Home Depot, Inc. (NYSE:HDGet Rating) has received an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $366.48.

HD has been the subject of a number of recent research reports. Evercore ISI lowered their price objective on Home Depot to $360.00 in a research note on Thursday, June 9th. UBS Group lifted their price objective on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Robert W. Baird lifted their target price on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, August 16th. Truist Financial lifted their target price on Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reduced their target price on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th.

Home Depot Trading Up 1.6 %

HD opened at $280.42 on Friday. The stock has a market cap of $287.07 billion, a PE ratio of 16.96, a PEG ratio of 1.48 and a beta of 0.99. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70. The business has a 50 day moving average of $300.51 and a 200-day moving average of $300.82. Home Depot has a 52 week low of $264.51 and a 52 week high of $420.61.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. The business had revenue of $43.79 billion during the quarter, compared to analysts’ expectations of $43.33 billion. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.53 earnings per share. Equities research analysts predict that Home Depot will post 16.56 earnings per share for the current fiscal year.

Home Depot declared that its Board of Directors has approved a stock buyback plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 annualized dividend and a dividend yield of 2.71%. Home Depot’s payout ratio is 46.71%.

Insider Activity

In related news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now directly owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new stake in Home Depot during the fourth quarter worth $1,868,000. Summit Trail Advisors LLC lifted its holdings in Home Depot by 5.9% during the fourth quarter. Summit Trail Advisors LLC now owns 2,031 shares of the home improvement retailer’s stock worth $843,000 after buying an additional 114 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Home Depot by 15.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 39,949 shares of the home improvement retailer’s stock worth $16,579,000 after buying an additional 5,335 shares during the period. Financial Advisory Service Inc. lifted its holdings in Home Depot by 32.7% during the fourth quarter. Financial Advisory Service Inc. now owns 3,453 shares of the home improvement retailer’s stock worth $1,433,000 after buying an additional 851 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Home Depot by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock worth $7,002,662,000 after buying an additional 701,811 shares during the period. Institutional investors own 68.66% of the company’s stock.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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