Evercore ISI Increases Home Depot (NYSE:HD) Price Target to $430.00

Home Depot (NYSE:HD) had its price target upped by Evercore ISI from $420.00 to $430.00 in a research report report published on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Truist Financial increased their price objective on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price 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. Royal Bank of Canada raised their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday. One 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 stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

HD opened at $408.18 on Wednesday. The firm has a market cap of $405.44 billion, a P/E ratio of 27.73, a PEG ratio of 2.84 and a beta of 1.01. Home Depot has a 1-year low of $302.34 and a 1-year high of $421.56. The company has a 50 day simple moving average of $399.51 and a two-hundred day simple moving average of $366.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at approximately $33,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the third quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the third quarter worth $46,000. Finally, Denver PWM LLC bought a new stake in Home Depot during the 2nd quarter valued at $40,000. Institutional investors own 70.86% of the company’s stock.

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.