Home Depot (NYSE:HD) Price Target Cut to $415.00

Home Depot (NYSE:HD) had its price objective reduced by equities researchers at Evercore ISI from $420.00 to $415.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Evercore ISI’s price target indicates a potential upside of 24.69% from the company’s current price.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company upped their target price on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Stifel Nicolaus upped their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Truist Financial boosted their price target on Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Trading Down 0.6 %

Shares of NYSE HD opened at $332.83 on Tuesday. The business’s 50 day moving average is $368.54 and its two-hundred day moving average is $339.01. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The stock has a market capitalization of $329.84 billion, a P/E ratio of 22.04, a PEG ratio of 2.25 and a beta of 0.98.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 earnings per share. As a group, research analysts expect that Home Depot will post 15.37 EPS for the current year.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Congress Wealth Management LLC DE grew its position in Home Depot by 3.7% during the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after purchasing an additional 3,162 shares during the period. Wolf Group Capital Advisors grew its position in Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares during the period. Alliance Wealth Management Group acquired a new stake in Home Depot during the 4th quarter worth about $253,000. Psagot Value Holdings Ltd. Israel grew its position in Home Depot by 8.0% during the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after purchasing an additional 200 shares during the period. Finally, Zullo Investment Group Inc. grew its position in Home Depot by 6.6% during the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile

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.