Home Depot (NYSE:HD) Lifted to “Buy” at DA Davidson

Home Depot (NYSE:HD) was upgraded by equities research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $395.00 price target on the home improvement retailer’s stock, up from their prior price target of $352.00. DA Davidson’s price objective would suggest a potential upside of 15.67% from the stock’s current price.

Several other equities research analysts have also recently weighed in on HD. TD Cowen dropped their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. UBS Group decreased their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Wedbush restated an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. Finally, Truist Financial reduced their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.42.

Home Depot Trading Down 0.1 %

NYSE:HD opened at $341.49 on Wednesday. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87. The firm has a 50-day moving average price of $338.15 and a two-hundred day moving average price of $352.59. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm has a market cap of $338.62 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the firm earned $3.82 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Home Depot will post 15.28 earnings per share for the current fiscal year.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Home Depot during the fourth quarter valued at approximately $4,311,070,000. International Assets Investment Management LLC increased its stake in shares of Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the first quarter worth approximately $513,016,000. Jennison Associates LLC lifted its position in Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. Finally, Capital Research Global Investors boosted its stake 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 valued at $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

About Home Depot

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.