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

Home Depot (NYSE:HD) had its price objective increased by equities research analysts at Morgan Stanley from $410.00 to $415.00 in a research report issued on Tuesday. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s target price points to a potential upside of 11.95% from the stock’s current price.

HD has been the subject of several other reports. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $427.92.

Home Depot Trading Down 1.7%

Shares of NYSE HD opened at $370.71 on Tuesday. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market cap of $368.50 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a fifty day simple moving average of $359.38 and a 200-day simple moving average of $387.66.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the company earned $3.63 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Home Depot will post 15.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MBL Wealth LLC increased its position in Home Depot by 5.3% in the 1st quarter. MBL Wealth LLC now owns 5,498 shares of the home improvement retailer’s stock worth $2,015,000 after purchasing an additional 276 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Home Depot by 61.1% during the 1st quarter. Acadian Asset Management LLC now owns 187,366 shares of the home improvement retailer’s stock valued at $68,659,000 after acquiring an additional 71,073 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Home Depot by 14.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 25,078 shares of the home improvement retailer’s stock valued at $9,191,000 after acquiring an additional 3,088 shares during the last quarter. Acorns Advisers LLC increased its holdings in shares of Home Depot by 27.5% during the 1st quarter. Acorns Advisers LLC now owns 1,492 shares of the home improvement retailer’s stock valued at $547,000 after acquiring an additional 322 shares during the last quarter. Finally, Blue Rock Wealth Management LLC increased its holdings in shares of Home Depot by 35.6% during the 1st quarter. Blue Rock Wealth Management LLC now owns 1,090 shares of the home improvement retailer’s stock valued at $399,000 after acquiring an additional 286 shares during the last quarter. 70.86% of the stock is 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.