Home Depot (NYSE:HD) Price Target Raised to $467.00

Home Depot (NYSE:HD) had its price target lifted by Truist Financial from $465.00 to $467.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other research firms also recently issued reports on HD. Royal Bank of Canada raised their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Stifel Nicolaus raised their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. DA Davidson raised their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.00.

Home Depot Stock Performance

Shares of HD opened at $412.64 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $409.90 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 4.22 and a beta of 1.05. The stock has a 50 day moving average of $405.21 and a 200 day moving average of $395.46. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $3.81 earnings per share. As a group, sell-side analysts forecast that Home Depot will post 15.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC increased its holdings in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the period. Norges Bank purchased a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC increased its holdings in Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Home Depot by 5.5% during the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock valued at $3,521,173,000 after purchasing an additional 468,203 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.