Wells Fargo & Company Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its target price boosted by equities research analysts at Wells Fargo & Company from $440.00 to $450.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 9.90% from the company’s current price.

Other equities analysts have also issued research reports about the company. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley raised their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Royal Bank of Canada upped their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, TD Cowen boosted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $433.44.

Home Depot Price Performance

HD stock opened at $409.47 on Thursday. The business’s 50-day moving average is $404.93 and its two-hundred day moving average is $395.58. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $406.76 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.22 and a beta of 1.05. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.81 EPS. Analysts anticipate that Home Depot will post 15.12 earnings per share for the current fiscal year.

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on 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 $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP increased its position in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.