Home Depot (NYSE:HD) Receives Market Perform Rating from Telsey Advisory Group

Posted by Defense World Staff on Aug 16th, 2023

Telsey Advisory Group reiterated their market perform rating on shares of Home Depot (NYSE:HD – Free Report) in a report published on Tuesday morning, Benzinga reports. They currently have a $315.00 price objective on the home improvement retailer’s stock.

A number of other brokerages have also weighed in on HD. Credit Suisse Group decreased their price target on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. The Goldman Sachs Group decreased their price target on shares of Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Guggenheim decreased their price objective on Home Depot from $335.00 to $320.00 in a report on Wednesday, May 17th. Citigroup raised their target price on shares of Home Depot from $327.00 to $375.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $329.38.

Check Out Our Latest Stock Analysis on HD

Home Depot Price Performance

NYSE:HD opened at $331.96 on Tuesday. The firm’s fifty day moving average is $315.08 and its two-hundred day moving average is $303.30. The firm has a market cap of $333.75 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.54 and a beta of 0.95. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27. Home Depot has a one year low of $265.61 and a one year high of $347.25.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 EPS for the quarter, topping the consensus estimate of $4.45 by $0.20. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The business had revenue of $42.92 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the prior year, the firm posted $5.05 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts expect that Home Depot will post 14.97 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio is currently 50.94%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in Home Depot by 99,916.0% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 870,320,643 shares of the home improvement retailer’s stock worth $270,356,404,000 after buying an additional 869,450,462 shares during the last quarter. BlackRock Inc. increased its stake in shares of Home Depot by 1.2% during the first quarter. BlackRock Inc. now owns 77,137,759 shares of the home improvement retailer’s stock worth $22,764,896,000 after acquiring an additional 878,220 shares during the period. Geode Capital Management LLC raised its holdings in Home Depot by 1.3% during the second quarter. Geode Capital Management LLC now owns 19,381,828 shares of the home improvement retailer’s stock worth $6,005,347,000 after purchasing an additional 246,828 shares in the last quarter. Morgan Stanley raised its position in Home Depot by 10.0% in the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after acquiring an additional 1,698,402 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Home Depot by 6.3% in the first quarter. Wellington Management Group LLP now owns 15,718,744 shares of the home improvement retailer’s stock worth $4,638,916,000 after acquiring an additional 925,962 shares in the last quarter. Hedge funds and other institutional investors own 69.91% of the company’s stock.

About Home Depot

(Get Free Report)

The Home Depot, Inc operates as a home improvement retailer. 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.