Home Depot (NYSE:HD) Given New $398.00 Price Target at Sanford C. Bernstein

Home Depot (NYSE:HD) had its target price lifted by equities researchers at Sanford C. Bernstein from $380.00 to $398.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the home improvement retailer’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 5.62% from the company’s previous close.

HD has been the topic of several other reports. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a research report on Tuesday. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $425.32.

Home Depot Stock Performance

Home Depot stock opened at $376.84 on Wednesday. The firm has a market capitalization of $374.59 billion, a P/E ratio of 25.60, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a fifty day moving average price of $358.99 and a two-hundred day moving average price of $387.78. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.63 EPS. As a group, analysts anticipate that Home Depot will post 15.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter valued at approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in Home Depot in the first quarter valued at approximately $31,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Institutional investors own 70.86% of the company’s stock.

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.