Home Depot’s (HD) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Home Depot (NYSE:HD) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $455.00 price objective on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Truist Financial boosted their price objective on Home Depot from $391.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.60.

Home Depot Stock Down 0.7%

HD stock opened at $376.84 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $374.59 billion, a PE ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a 50-day simple moving average of $358.99 and a two-hundred day simple moving average of $387.78.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.44%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.66%.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, Abound Financial LLC purchased a new position in shares of Home Depot during the first quarter valued at approximately $31,000. Institutional investors own 70.86% of the company’s stock.

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.