Home Depot (NYSE:HD) Price Target Increased to $417.00 by Analysts at Truist Financial

Home Depot (NYSE:HD) had its target price raised by equities research analysts at Truist Financial from $386.00 to $417.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective indicates a potential upside of 8.87% from the stock’s previous close.

A number of other research firms also recently weighed in on HD. Bank of America raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Wedbush upped their price target on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company increased their price objective on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Stifel Nicolaus boosted their target price on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $374.23.

Home Depot Stock Down 0.2 %

Home Depot stock opened at $383.01 on Monday. The firm’s 50 day moving average price is $369.40 and its two-hundred day moving average price is $335.33. The firm has a market cap of $379.57 billion, a PE ratio of 25.40, a P/E/G ratio of 2.53 and a beta of 0.98. Home Depot has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the company earned $3.30 earnings per share. Home Depot’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts predict that Home Depot will post 15.39 EPS for the current fiscal year.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Congress Wealth Management LLC DE grew its position in Home Depot by 3.7% during the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after acquiring an additional 3,162 shares during the last quarter. Psagot Value Holdings Ltd. Israel boosted its stake in Home Depot by 8.0% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after purchasing an additional 200 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of Home Depot by 1.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,563 shares of the home improvement retailer’s stock valued at $6,780,000 after buying an additional 301 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in Home Depot by 119.8% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock worth $890,000 after buying an additional 1,605 shares in the last quarter. 70.86% of the stock is owned by 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.