Morgan Stanley Raises The Home Depot (NYSE:HD) Price Target to $340.00

The Home Depot (NYSE:HD) had its price objective increased by Morgan Stanley from $320.00 to $340.00 in a research report sent to investors on Tuesday, Analyst Ratings Network reports. Morgan Stanley currently has an overweight rating on the home improvement retailer’s stock.

HD has been the subject of a number of other reports. Guggenheim upgraded shares of The Home Depot from a neutral rating to a buy rating and set a $310.00 price objective for the company in a report on Wednesday, January 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of The Home Depot from $288.00 to $375.00 and gave the company a buy rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of The Home Depot from $330.00 to $360.00 in a research report on Wednesday, May 5th. Zelman & Associates lowered shares of The Home Depot from a buy rating to a hold rating in a research report on Thursday, April 15th. Finally, Loop Capital lifted their price objective on shares of The Home Depot from $310.00 to $350.00 and gave the stock a buy rating in a research report on Monday, April 19th. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $311.87.

Shares of NYSE HD opened at $326.78 on Tuesday. The Home Depot has a twelve month low of $226.20 and a twelve month high of $345.69. The firm has a fifty day simple moving average of $318.47 and a 200 day simple moving average of $283.78. The company has a market capitalization of $351.36 billion, a PE ratio of 28.60, a P/E/G ratio of 2.13 and a beta of 1.03. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 21.39.

The Home Depot (NYSE:HD) last posted its quarterly earnings results on Monday, February 22nd. The home improvement retailer reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $32.26 billion during the quarter, compared to analysts’ expectations of $27.10 billion. The Home Depot had a net margin of 9.94% and a negative return on equity of 910.85%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period last year, the company posted $2.28 earnings per share. As a group, equities analysts expect that The Home Depot will post 11.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 11th were given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.02%. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Wednesday, March 10th. The Home Depot’s dividend payout ratio is 64.39%.

Hedge funds have recently made changes to their positions in the stock. CI Investments Inc. boosted its holdings in shares of The Home Depot by 7.4% during the 4th quarter. CI Investments Inc. now owns 80,119 shares of the home improvement retailer’s stock valued at $21,281,000 after acquiring an additional 5,505 shares during the last quarter. Roffman Miller Associates Inc. PA raised its position in shares of The Home Depot by 27.9% during the first quarter. Roffman Miller Associates Inc. PA now owns 390,451 shares of the home improvement retailer’s stock valued at $46,067,000 after buying an additional 85,287 shares during the last quarter. Clearview Wealth Advisors LLC bought a new stake in shares of The Home Depot during the fourth quarter valued at approximately $249,000. Canvas Wealth Advisors LLC bought a new stake in shares of The Home Depot during the first quarter valued at approximately $1,060,000. Finally, Venture Visionary Partners LLC raised its position in shares of The Home Depot by 99.2% during the fourth quarter. Venture Visionary Partners LLC now owns 27,768 shares of the home improvement retailer’s stock valued at $7,375,000 after buying an additional 13,825 shares during the last quarter. 68.71% of the stock is currently owned by institutional investors.

About The Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Featured Story: Why are analyst ratings important in trading stocks?

Analyst Recommendations for The Home Depot (NYSE:HD)

Receive News & Ratings for The Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.