Morgan Stanley Raises Home Depot (NYSE: HD) Price Target to $ 340.00
The Home Depot (NYSE: HD) saw its target price raised by Morgan Stanley stock analysts from $ 320.00 to $ 340.00 in a research report released on Monday, Benzinga reports. The company currently has an “overweight” rating on the home improvement retailer’s inventory. Morgan Stanley’s price target suggests a potential rise of 5.24% from the company’s previous close.
Other equity research analysts have also recently published reports on the company. Zelman & Associates reduced Home Depot from a “buy” note to a “hold” note in a research note on Thursday, April 15. Credit Suisse Group reaffirmed a “buy” rating and issued a price target of $ 319.00 on Home Depot shares in a research report on Thursday, March 25. UBS Group raised its price target for The Home Depot stock from $ 305.00 to $ 350.00 and gave the stock a “buy” rating in a research report on Tuesday April 20. Citigroup Inc. 3% principal protected minimum coupon on the basis of Russell raised its price target on the Home Depot shares from $ 288.00 to $ 375.00 and gave the stock a rating of ” purchase ”in a research note on Monday, May 10. Finally, Raymond James raised his target price on The Home Depot from $ 305.00 to $ 350.00 and gave the company an “outperformance” rating in a research report Thursday. Five research analysts rated the stock with a sustaining rating and twenty-five gave the stock a buy rating. The stock currently has an average rating of “Buy” and a consensus target price of $ 314.68.
NYSE HD opened at $ 323.07 on Monday. Home Depot has a 52 week low of $ 234.31 and a 52 week high of $ 345.69. The company has a 50-day moving average price of $ 320.50 and a 200-day moving average price of $ 284.44. The company has a quick ratio of 0.72, a current ratio of 1.36, and a debt ratio of 21.39. The company has a market cap of $ 347.37 billion, a PE ratio of 28.00, a price / earnings-growth ratio of 2.13 and a beta of 1.03.
The Home Depot (NYSE: HD) last released its quarterly results on Monday, February 22. The home improvement retailer reported earnings per share (EPS) of $ 2.65 for the quarter, beating the Thomson Reuters consensus estimate of $ 2.63 per $ 0.02. Home Depot had a net margin of 9.94% and a negative return on equity of 910.85%. The company posted revenue of $ 32.26 billion for the quarter, compared to analysts’ estimates of $ 27.10 billion. During the same period of the previous year, the company achieved earnings per share of $ 2.28. The company’s revenue for the quarter increased 25.1% year over year. On average, equity research analysts forecast The Home Depot to post earnings per share of 11.76 for the current fiscal year.
Several hedge funds have recently increased or reduced their holdings in HD. Flagship Private Wealth LLC acquired a new stake in The Home Depot in the 4th quarter valued at approximately $ 32,000. Westchester Capital Management Inc. acquired a new position in Home Depot shares in the fourth quarter valued at approximately $ 33,000. Bouvel Investment Partners LLC acquired a new stake in Home Depot shares in the fourth quarter valued at approximately $ 33,000. Winch Advisory Services LLC increased its stake in The Home Depot shares by 139.6% in the fourth quarter. Winch Advisory Services LLC now owns 127 shares of the home improvement retailer valued at $ 34,000 after acquiring 74 additional shares in the last quarter. Finally, Johnson Midwest Financial LLC purchased a new equity stake in The Home Depot during the fourth quarter valued at approximately $ 40,000. 68.71% of the shares are held by institutional investors and hedge funds.
Home Depot Company Profile
Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores which sell a variety of building materials, home improvement products, building materials, lawn and garden products and decorative products, as well as installation, home maintenance and professional services programs at do it yourself and professional customers.
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7 things to watch out for when student debt forgiveness is adopted
Now that the Biden administration is fully in the driver’s seat, student debt cancellation has come to the fore. Consider these numbers. Student debt is estimated at $ 1.7 trillion. The average student carries around $ 30,000 in student loans.
If $ 10,000 in student debt were to be forgiven, it is estimated that one-third of borrowers (between $ 15 million and $ 16.3 million) would become debt-free. Of course, if the number reaches $ 50,000, as some lawmakers suggest, the impact would be even greater.
Putting aside personal reflections on the wisdom of going this route, it has the potential to trigger a substantial stimulus in the economy.
And as an investor, it’s fair to ask where this money would go. After all, there is nothing wrong with passing this stimulus on to investors.
A counter-argument is that the absence of a monthly payment may not provide enough money to have an impact. However, Senator Elizabeth Warren spoke about the effect of student loans in preventing many generations of millennials and millennials from pursuing holistic life goals such as buying a home, creating a business or the creation of a family.
With that in mind, we’ve prepared this special presentation that looks at 7 actions that could benefit if borrowers are freed from the burden of student loans.
See “7 Actions to Watch Out for When Enacted Student Debt Forgiveness.”