Gordon Haskett Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its price target hoisted by Gordon Haskett from $320.00 to $330.00 in a report released on Friday,MarketScreener reports. Gordon Haskett’s price target suggests a potential upside of 0.50% from the stock’s current price.

HD has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of Home Depot from $375.00 to $360.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Daiwa Securities Group raised their price target on shares of Home Depot from $360.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Piper Sandler cut their price target on shares of Home Depot from $422.00 to $421.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Telsey Advisory Group dropped their target price on shares of Home Depot from $435.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada dropped their target price on shares of Home Depot from $377.00 to $340.00 and set a “sector perform” rating for the company in a report on Wednesday, May 20th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $371.71.

Home Depot Trading Up 0.7%

Shares of NYSE HD traded up $2.36 during midday trading on Friday, reaching $328.37. 3,648,080 shares of the stock were exchanged, compared to its average volume of 5,082,888. The company has a 50 day simple moving average of $322.44 and a 200 day simple moving average of $347.04. The stock has a market capitalization of $327.42 billion, a P/E ratio of 23.32, a PEG ratio of 3.76 and a beta of 0.97. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04. Home Depot has a twelve month low of $289.10 and a twelve month high of $426.75.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.02. The business had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities analysts expect that Home Depot will post 15.01 earnings per share for the current year.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Norges Bank purchased a new position in Home Depot in the 4th quarter valued at approximately $4,850,329,000. Wellington Management Group LLP boosted its position in Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after buying an additional 3,836,051 shares during the period. Cardano Risk Management B.V. boosted its position in Home Depot by 901.5% in the 4th quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock valued at $1,132,275,000 after buying an additional 2,961,979 shares during the period. Diamant Asset Management Inc. boosted its position in Home Depot by 33,026.3% in the 1st quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer’s stock valued at $770,269,000 after buying an additional 2,334,956 shares during the period. Finally, J. Stern & Co. LLP boosted its position in Home Depot by 14,869.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer’s stock valued at $768,210,000 after buying an additional 2,217,607 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.