Home Depot (NYSE:HD) Given New $424.00 Price Target at Royal Bank of Canada

Home Depot (NYSE:HD) had its price target lowered by Royal Bank of Canada from $431.00 to $424.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a sector perform rating on the home improvement retailer’s stock.

Other research analysts also recently issued reports about the stock. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Down 0.7 %

Shares of Home Depot stock opened at $390.40 on Wednesday. The company has a market cap of $387.81 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company’s 50 day moving average is $401.17 and its 200 day moving average is $398.42. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the firm earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the business. Yoffe Investment Management LLC bought a new position in Home Depot during the fourth quarter valued at $865,000. LifeWealth Investments LLC bought a new position in Home Depot during the fourth quarter valued at $397,000. Capital A Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at $180,000. LM Advisors LLC lifted its position in Home Depot by 111.6% during the fourth quarter. LM Advisors LLC now owns 5,095 shares of the home improvement retailer’s stock valued at $1,982,000 after purchasing an additional 2,687 shares during the last quarter. Finally, Lakeshore Capital Group Inc. bought a new position in Home Depot during the fourth quarter valued at $658,000. 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.