Home Depot (NYSE:HD) Shares Up 0.4% After Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.4% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $450.00 to $475.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Home Depot traded as high as $416.57 and last traded at $415.54. Approximately 303,342 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,895,219 shares. The stock had previously closed at $413.99.

Several other brokerages also recently weighed in on HD. Wells Fargo & Company increased their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. TD Cowen raised their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Mizuho boosted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $428.78.

Insider Transactions at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Hedge funds have recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth $32,000. NewSquare Capital LLC increased its holdings in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Home Depot in the third quarter valued at $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

The stock has a 50 day simple moving average of $405.88 and a two-hundred day simple moving average of $394.98. The company has a market capitalization of $412.25 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 4.22 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the company posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.