Home Depot (NYSE:HD) Price Target Lowered to $435.00 at Piper Sandler

Home Depot (NYSE:HD) had its price objective lowered by equities research analysts at Piper Sandler from $455.00 to $435.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price objective points to a potential upside of 9.97% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Wells Fargo & Company raised their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $436.76.

Home Depot Stock Up 0.6 %

NYSE:HD traded up $2.27 on Wednesday, hitting $395.56. The stock had a trading volume of 1,968,205 shares, compared to its average volume of 3,217,938. The company has a market cap of $392.93 billion, a PE ratio of 26.87, a P/E/G ratio of 4.03 and a beta of 1.05. The business’s fifty day moving average is $401.23 and its 200 day moving average is $398.48. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. On average, equities research analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the 4th quarter valued at $28,000. Navigoe LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP grew its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other 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.