Truist Financial Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price reduced by equities researchers at Truist Financial from $454.00 to $421.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective points to a potential upside of 13.57% from the company’s previous close.

A number of other brokerages also recently issued reports on HD. JPMorgan Chase & Co. lowered their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Stifel Nicolaus raised their target price on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target on the stock. DA Davidson reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Oppenheimer boosted their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.82.

Home Depot Price Performance

Shares of NYSE HD traded up $1.64 during mid-day trading on Friday, hitting $370.71. 2,761,250 shares of the company’s stock traded hands, compared to its average volume of 3,505,917. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. Home Depot has a 1 year low of $326.31 and a 1 year high of $439.37. The company’s 50-day moving average is $398.00 and its two-hundred day moving average is $381.11. The company has a market capitalization of $369.00 billion, a P/E ratio of 25.18, a PEG ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts anticipate that Home Depot will post 15.13 EPS for the current fiscal year.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the business. Legend Financial Advisors Inc. bought a new stake in Home Depot during the second quarter valued at about $28,000. Sagard Holdings Management Inc. bought a new stake in shares of Home Depot in the 2nd quarter valued at about $29,000. Financially Speaking Inc bought a new stake in shares of Home Depot in the 3rd quarter valued at about $31,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 2nd quarter worth approximately $35,000. 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.