Evercore ISI Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

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

A number of other equities research analysts have also weighed in on HD. Royal Bank of Canada lifted 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. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. UBS Group increased their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.6 %

Shares of NYSE:HD opened at $408.18 on Wednesday. The stock’s 50-day moving average is $399.51 and its 200 day moving average is $366.56. The company has a market cap of $405.44 billion, a PE ratio of 27.73, a P/E/G ratio of 2.84 and a beta of 1.01. 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 has a 1 year low of $302.34 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the firm earned $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Home Depot will post 15.12 EPS for the current year.

Home Depot Announces Dividend

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

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several large investors have recently modified their holdings of HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new stake in Home Depot during the second quarter valued at approximately $40,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the third quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter worth $46,000. 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.