Home Depot (NYSE:HD) Stock Rating Upgraded by Stifel Nicolaus

Home Depot (NYSE:HD) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Wednesday, MarketBeat reports. The firm presently has a $425.00 price target on the home improvement retailer’s stock, up from their prior price target of $405.00. Stifel Nicolaus’ price objective points to a potential upside of 16.14% from the company’s previous close.

Other research analysts have also issued research reports about the stock. DA Davidson lowered their price target on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, Robert W. Baird lowered their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Eight investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Stock Down 1.3%

Home Depot stock 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. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a 50 day moving average price of $359.62 and a two-hundred day moving average price of $387.46. The firm has a market cap of $363.77 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently bought and sold shares of HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter worth about $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $29,000. Abound Financial LLC purchased a new position in shares of Home Depot in the 1st quarter worth about $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $32,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.