Truist Financial Boosts Home Depot (NYSE:HD) Price Target to $455.00

Home Depot (NYSE:HD) had its price target lifted by equities researchers at Truist Financial from $395.00 to $455.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price target indicates a potential upside of 10.06% from the company’s previous close.

HD has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Melius Research started coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Oppenheimer lifted their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Stock Performance

Shares of NYSE:HD traded up $1.50 during midday trading on Monday, hitting $413.40. The stock had a trading volume of 221,079 shares, compared to its average volume of 3,373,476. The company has a market capitalization of $409.93 billion, a PE ratio of 27.62, a P/E/G ratio of 2.88 and a beta of 1.00. The stock has a 50 day moving average price of $378.34 and a two-hundred day moving average price of $356.92. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. Home Depot has a 1 year low of $274.26 and a 1 year high of $420.03.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. As a group, equities analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the 1st quarter valued at about $38,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 4th quarter valued at about $39,000. Finally, Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter valued at about $40,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.