June 28, 2022

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Raymond James Trims Home Depot (NYSE:HD) Target Price to $340.00

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Home Depot (NYSE:HDGet Rating) had its price objective dropped by stock analysts at Raymond James from $350.00 to $340.00 in a research report issued on Wednesday, The Fly reports. Raymond James’ price objective indicates a potential upside of 12.98% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company dropped their target price on Home Depot from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, April 7th. Loop Capital reduced their target price on shares of Home Depot from $380.00 to $320.00 in a research note on Wednesday, February 23rd. Truist Financial dropped their price target on shares of Home Depot from $448.00 to $405.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. Piper Sandler lifted their price target on shares of Home Depot from $310.00 to $321.00 in a research report on Wednesday. Finally, OTR Global lowered Home Depot to a “positive” rating in a research report on Tuesday, May 10th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Buy” and a consensus price target of $384.43.

Shares of NYSE HD opened at $300.95 on Wednesday. The firm has a 50-day simple moving average of $309.13 and a 200-day simple moving average of $352.24. The company has a quick ratio of 0.24, a current ratio of 1.01 and a debt-to-equity ratio of 35.47. The stock has a market capitalization of $310.99 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Home Depot has a 52 week low of $280.63 and a 52 week high of $420.61.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings data on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.42. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $36.78 billion. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. Home Depot’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.86 EPS. As a group, equities research analysts expect that Home Depot will post 15.98 EPS for the current year.

In related news, EVP Hector A. Padilla sold 504 shares of Home Depot stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC grew its stake in shares of Home Depot by 2,290.6% during the first quarter. Walleye Capital LLC now owns 25,699 shares of the home improvement retailer’s stock worth $7,692,000 after purchasing an additional 24,624 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of Home Depot by 1.1% during the 1st quarter. Wealthfront Advisers LLC now owns 84,546 shares of the home improvement retailer’s stock worth $25,307,000 after acquiring an additional 881 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Home Depot by 40.0% during the 1st quarter. Continuum Advisory LLC now owns 6,291 shares of the home improvement retailer’s stock worth $1,890,000 after acquiring an additional 1,797 shares in the last quarter. Auxier Asset Management increased its holdings in shares of Home Depot by 0.4% in the 1st quarter. Auxier Asset Management now owns 25,883 shares of the home improvement retailer’s stock valued at $7,748,000 after acquiring an additional 100 shares during the last quarter. Finally, Avalon Investment & Advisory raised its position in shares of Home Depot by 14.3% during the 1st quarter. Avalon Investment & Advisory now owns 158,660 shares of the home improvement retailer’s stock worth $47,492,000 after acquiring an additional 19,844 shares in the last quarter. 70.61% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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