Home Depot (NYSE:HD) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Home Depot (NYSE:HD – Get Rating) in a note issued to investors on Thursday. The firm set a “hold” rating on the home improvement retailer’s stock.

Several other analysts have also recently weighed in on the company. Evercore ISI dropped their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Cowen dropped their price target on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Credit Suisse Group dropped their price target on Home Depot from $335.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. Truist Financial dropped their price target on Home Depot from $382.00 to $352.00 in a report on Wednesday, February 22nd. Finally, Wedbush lifted their price target on Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $331.45.

Home Depot Stock Performance

HD opened at $288.39 on Thursday. Home Depot has a 12-month low of $264.51 and a 12-month high of $347.25. The stock has a market cap of $295.23 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.61 and a beta of 0.93. The business has a 50 day moving average of $310.70 and a 200-day moving average of $303.66. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The company had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $36 billion. During the same period last year, the firm posted $3.21 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Home Depot will post 15.85 earnings per share for the current year.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in HD. Teamwork Financial Advisors LLC raised its stake in Home Depot by 1.4% during the 4th quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after buying an additional 31 shares during the last quarter. Retirement Planning Co of New England Inc. grew its position in shares of Home Depot by 0.5% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 5,769 shares of the home improvement retailer’s stock valued at $1,822,000 after acquiring an additional 31 shares during the period. Summit Asset Management LLC grew its position in shares of Home Depot by 0.9% during the 4th quarter. Summit Asset Management LLC now owns 3,491 shares of the home improvement retailer’s stock valued at $1,103,000 after acquiring an additional 31 shares during the period. Insight Wealth Strategies LLC grew its position in shares of Home Depot by 0.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock valued at $1,830,000 after acquiring an additional 32 shares during the period. Finally, Monterey Private Wealth Inc. grew its position in shares of Home Depot by 2.2% during the 4th quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after acquiring an additional 32 shares during the period. Institutional investors own 68.31% of the company’s stock.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.