Home Depot (NYSE:HD) Price Target Cut to $395.00

Home Depot (NYSE:HD) had its target price decreased by investment analysts at Citigroup from $415.00 to $395.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Citigroup’s target price would suggest a potential upside of 16.62% from the stock’s previous close.

A number of other brokerages have also weighed in on HD. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. HSBC reaffirmed a “reduce” rating and set a $323.00 target price on shares of Home Depot in a research report on Wednesday, April 3rd. Truist Financial reaffirmed a “buy” rating and set a $417.00 target price on shares of Home Depot in a research report on Wednesday, April 17th. Wells Fargo & Company upped their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $375.19.

Home Depot Price Performance

Home Depot stock opened at $338.70 on Tuesday. The stock’s 50 day moving average is $360.47 and its 200 day moving average is $343.54. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The firm has a market cap of $335.66 billion, a P/E ratio of 22.43, a P/E/G ratio of 2.28 and a beta of 1.01. Home Depot has a one year low of $274.26 and a one year high of $396.87.

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

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now 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 accessible through this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently modified their holdings of HD. Capital Research Global Investors grew its position in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Home Depot by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after acquiring an additional 347,614 shares during the last quarter. Norges Bank bought a new position in Home Depot during the 4th quarter worth approximately $4,311,070,000. Northern Trust Corp grew its position in Home Depot by 1.3% during the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after acquiring an additional 153,141 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Home Depot by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after acquiring an additional 195,670 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.