Home Depot (NYSE:HD) Shares Up 0.4% on Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.4% during trading on Tuesday after Truist Financial raised their price target on the stock from $465.00 to $467.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $416.57 and last traded at $415.54. Approximately 303,342 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,895,219 shares. The stock had previously closed at $413.99.

HD has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus raised their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.85.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the business. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at approximately $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 2.2 %

The firm has a market cap of $404.50 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The company has a 50-day simple moving average of $405.62 and a 200 day simple moving average of $395.38. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the firm posted $3.81 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

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.