Oppenheimer Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price lowered by equities research analysts at Oppenheimer from $420.00 to $405.00 in a report released on Friday,MarketScreener reports. The brokerage presently has a “market perform” rating on the home improvement retailer’s stock. Oppenheimer’s price objective suggests a potential upside of 15.15% from the company’s previous close.

HD has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Guggenheim lowered their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Gordon Haskett dropped their price objective on Home Depot from $345.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, November 19th. Royal Bank Of Canada decreased their price target on shares of Home Depot from $401.00 to $376.00 and set a “sector perform” rating for the company in a report on Wednesday, November 19th. Finally, Wall Street Zen lowered shares of Home Depot from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $403.50.

Home Depot Stock Up 0.2%

HD opened at $351.71 on Friday. The firm’s fifty day moving average price is $374.17 and its two-hundred day moving average price is $379.93. The company has a market capitalization of $350.13 billion, a P/E ratio of 23.97, a P/E/G ratio of 6.31 and a beta of 1.06. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $436.36. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. During the same period last year, the company earned $3.78 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC increased its holdings in Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 33 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $28,000. Sagard Holdings Management Inc. bought a new stake in shares of Home Depot in the 2nd quarter worth approximately $29,000. Financially Speaking Inc purchased a new position in Home Depot in the third quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Home Depot during the second quarter valued at $32,000. Institutional investors own 70.86% of the company’s stock.

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.