Home Depot (NYSE:HD) Upgraded to “Strong-Buy” at KGI Securities

Home Depot (NYSE:HD) was upgraded by equities research analysts at KGI Securities to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Barclays lifted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

Shares of NYSE HD opened at $381.55 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $379.02 billion, a P/E ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average of $401.00 and a two-hundred day moving average of $399.71. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 company 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 posted $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts forecast that Home Depot will post 15.13 earnings per share for the current year.

Institutional Trading of Home Depot

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. purchased a new position in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Northern Trust Corp grew its stake in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $471,189,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.