Home Depot (NYSE:HD) Price Target Cut to $363.00 by Analysts at Royal Bank Of Canada

Home Depot (NYSE:HD) had its target price reduced by Royal Bank Of Canada from $366.00 to $363.00 in a report issued on Thursday morning, MarketBeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the home improvement retailer’s stock.

HD has been the topic of a number of other research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $413.00 price objective on shares of Home Depot in a research report on Wednesday, December 10th. Piper Sandler cut their price target on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Telsey Advisory Group restated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research note on Wednesday. Wall Street Zen downgraded Home Depot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Zacks Research raised Home Depot from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $408.27.

Home Depot Stock Up 0.7%

Shares of NYSE:HD traded up $2.70 during mid-day trading on Thursday, reaching $381.28. 406,265 shares of the stock were exchanged, compared to its average volume of 4,132,937. The stock’s 50 day simple moving average is $368.81 and its 200-day simple moving average is $380.29. Home Depot has a one year low of $326.31 and a one year high of $426.75. The company has a market cap of $379.57 billion, a P/E ratio of 26.04, a P/E/G ratio of 13.70 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $3.78 EPS. As a group, equities research analysts predict that Home Depot will post 15.13 EPS for the current year.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares in the company, valued at $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the sale, the executive vice president owned 13,196 shares of the company’s stock, valued at approximately $4,599,069.92. This represents a 17.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,963 shares of company stock worth $1,748,845. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HD. Parvin Asset Management LLC lifted its holdings in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 33 shares during the last quarter. Advocate Investing Services LLC bought a new position in Home Depot during the 4th quarter worth $25,000. Financially Speaking Inc acquired a new stake in shares of Home Depot during the third quarter worth $31,000. Sagard Holdings Management Inc. acquired a new stake in shares of Home Depot during the second quarter worth $29,000. Finally, Key Capital Management INC bought a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. 70.86% of the stock is owned by institutional investors.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.