Robert W. Baird Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price target decreased by investment analysts at Robert W. Baird from $450.00 to $415.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s price target would indicate a potential upside of 23.31% from the company’s previous close.

Several other brokerages have also issued reports on HD. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Stifel Nicolaus reissued a “hold” rating and set a $370.00 price objective (down previously from $440.00) on shares of Home Depot in a research report on Friday, November 14th. Sanford C. Bernstein boosted their price target on Home Depot from $403.00 to $406.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Telsey Advisory Group lowered their price objective on Home Depot from $455.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a research report on Wednesday. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $422.68.

Home Depot Price Performance

NYSE HD opened at $336.55 on Wednesday. The stock has a market capitalization of $334.99 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 3.59 and a beta of 1.00. Home Depot has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The business’s fifty day moving average price is $390.33 and its 200-day moving average price is $381.80.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $9,941,924.05. This trade represents a 13.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,466 shares of company stock valued at $17,859,432 over the last three months. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HD. Parvin Asset Management LLC boosted its stake in shares of Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares during the period. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the second quarter valued at approximately $28,000. Sagard Holdings Management Inc. bought a new position in Home Depot in the second quarter worth approximately $29,000. Financially Speaking Inc purchased a new position in Home Depot during the 3rd quarter worth $31,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Home Depot during the 2nd quarter valued at $32,000. Institutional investors own 70.86% of the company’s stock.

About Home Depot

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.