Guggenheim Reiterates “Buy” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report released on Wednesday,Benzinga reports. They presently have a $450.00 price objective on the home improvement retailer’s stock. Guggenheim’s price objective indicates a potential upside of 22.97% from the stock’s previous close.

HD has been the topic of several other research reports. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Tuesday. Piper Sandler reduced their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $427.92.

Home Depot Price Performance

HD opened at $365.95 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $363.77 billion, a P/E ratio of 24.86, a P/E/G ratio of 4.03 and a beta of 1.05. The company’s 50-day simple moving average is $359.62 and its two-hundred day simple moving average is $387.46. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37.

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

Institutional Investors Weigh In On Home Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Wealth Group Ltd. grew its holdings in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after buying an additional 27 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in Home Depot during the 4th quarter valued at approximately $281,000. Capital & Planning LLC grew its holdings in Home Depot by 110.2% during the 4th quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 563 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Home Depot during the 4th quarter valued at approximately $634,000. Finally, Ironwood Wealth Management LLC. grew its holdings in Home Depot by 0.7% during the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after buying an additional 32 shares in the last quarter. 70.86% of the stock is 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.