Royal Bank of Canada Boosts Home Depot (NYSE:HD) Price Target to $413.00

Home Depot (NYSE:HD) had its price target boosted by Royal Bank of Canada from $363.00 to $413.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the home improvement retailer’s stock.

Other equities analysts also recently issued reports about the stock. Barclays boosted their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Morgan Stanley increased their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

Shares of Home Depot stock opened at $405.60 on Monday. Home Depot has a twelve month low of $302.34 and a twelve month high of $421.56. The firm has a market cap of $402.88 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm’s 50-day simple moving average is $397.67 and its 200-day simple moving average is $365.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm posted $3.81 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that Home Depot will post 15.06 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Institutional Trading of Home Depot

Institutional investors have recently made changes to their positions in the stock. Abacus Wealth Partners LLC raised its position in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the last quarter. Capital City Trust Co. FL increased its stake in shares of Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after acquiring an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. increased its stake in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC increased its stake in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.