Home Depot (NYSE:HD) Price Target Raised to $417.00 at Truist Financial

Home Depot (NYSE:HD) had its target price increased by analysts at Truist Financial from $393.00 to $417.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price target suggests a potential upside of 12.49% from the stock’s current price.

Several other analysts have also issued reports on the stock. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Gordon Haskett lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $427.92.

Home Depot Stock Down 1.7%

Shares of NYSE:HD opened at $370.71 on Tuesday. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a fifty day moving average of $359.38 and a 200 day moving average of $387.66. The firm has a market capitalization of $368.50 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that Home Depot will post 15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of the stock. MBL Wealth LLC raised its stake in Home Depot by 5.3% in the first quarter. MBL Wealth LLC now owns 5,498 shares of the home improvement retailer’s stock worth $2,015,000 after buying an additional 276 shares in the last quarter. Acadian Asset Management LLC raised its stake in Home Depot by 61.1% in the first quarter. Acadian Asset Management LLC now owns 187,366 shares of the home improvement retailer’s stock worth $68,659,000 after buying an additional 71,073 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Home Depot by 14.0% in the first quarter. Geneos Wealth Management Inc. now owns 25,078 shares of the home improvement retailer’s stock worth $9,191,000 after buying an additional 3,088 shares in the last quarter. Acorns Advisers LLC raised its stake in Home Depot by 27.5% in the first quarter. Acorns Advisers LLC now owns 1,492 shares of the home improvement retailer’s stock worth $547,000 after buying an additional 322 shares in the last quarter. Finally, Blue Rock Wealth Management LLC raised its stake in Home Depot by 35.6% in the first quarter. Blue Rock Wealth Management LLC now owns 1,090 shares of the home improvement retailer’s stock worth $399,000 after buying an additional 286 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

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.