Stifel Nicolaus Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its price objective increased by Stifel Nicolaus from $375.00 to $400.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the home improvement retailer’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 0.79% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Oppenheimer boosted their price objective 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. Sanford C. Bernstein initiated coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Truist Financial raised their price target on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $422.81.

Home Depot Price Performance

HD stock opened at $403.17 on Monday. The firm has a 50 day moving average of $395.99 and a 200-day moving average of $364.77. The company has a market cap of $400.46 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.81 and a beta of 1.01. 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 12-month low of $287.24 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. During the same period in the previous year, the firm posted $4.65 earnings per share. Home Depot’s revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Trading of Home Depot

Several large investors have recently added to or reduced their stakes in HD. International Assets Investment Management LLC raised its holdings in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the period. Legal & General Group Plc raised its stake in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after purchasing an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Home Depot by 15.0% during the first 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 purchasing an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after purchasing an additional 138,396 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after purchasing an additional 333,312 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.