Home Depot (NYSE:HD) Price Target Raised to $420.00

Home Depot (NYSE:HD) had its target price raised by Evercore ISI from $410.00 to $420.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

HD has been the topic of a number of other research reports. Oppenheimer cut shares of Home Depot from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Telsey Advisory Group boosted their price target on shares of Home Depot from $325.00 to $335.00 and gave the company a market perform rating in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price target on shares of Home Depot from $385.00 to $400.00 and gave the company an overweight rating in a research report on Tuesday, February 13th. Barclays upgraded shares of Home Depot from an equal weight rating to an overweight rating and boosted their price target for the company from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Stifel Nicolaus boosted their price target on shares of Home Depot from $355.00 to $366.00 and gave the company a hold rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of Moderate Buy and a consensus target price of $368.76.

Home Depot Stock Performance

Shares of HD opened at $383.60 on Tuesday. The company has a market capitalization of $380.16 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.99. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The company’s fifty day moving average price is $368.98 and its 200 day moving average price is $334.88.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter last year, the firm posted $3.30 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Home Depot will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is presently 59.60%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Trading of Home Depot

A number of hedge funds have recently modified their holdings of the stock. VisionPoint Advisory Group LLC bought a new position in Home Depot in the 2nd quarter valued at about $26,000. Bare Financial Services Inc bought a new stake in shares of Home Depot during the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the 4th quarter valued at approximately $27,000. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $27,000. Finally, KB Financial Partners LLC bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds 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.