Telsey Advisory Group Reiterates Market Perform Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a research note issued on Wednesday, Benzinga reports. They presently have a $360.00 target price on the home improvement retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 3.26% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. HSBC lowered their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Evercore ISI upped their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Finally, Truist Financial reduced their target price on shares of Home Depot from $406.00 to $396.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $384.00.

Home Depot Stock Performance

Shares of HD stock traded up $0.30 during trading hours on Wednesday, reaching $348.64. 2,304,313 shares of the company’s stock were exchanged, compared to its average volume of 3,403,036. The business has a fifty day moving average price of $347.89 and a 200-day moving average price of $353.21. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The stock has a market capitalization of $345.72 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.48 and a beta of 0.98. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS 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 period in the prior year, the company posted $3.82 earnings per share. Home Depot’s revenue was down 2.3% on a year-over-year basis. Analysts predict that Home Depot will post 15.28 EPS for the current fiscal year.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. Capital Research Global Investors boosted its position in shares of 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. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 347,614 shares during the period. Norges Bank acquired a new position in Home Depot during the 4th quarter worth approximately $4,311,070,000. Fisher Asset Management LLC raised its stake 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 buying an additional 195,670 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the period. 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.