Home Depot (NYSE:HD) Stock Price Expected to Rise, Truist Financial Analyst Says

Home Depot (NYSE:HD) had its target price raised by equities researchers at Truist Financial from $465.00 to $467.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective points to a potential upside of 12.70% from the stock’s current price.

Several other analysts also recently weighed in on the company. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. DA Davidson lifted their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America lifted their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen lifted their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada lifted their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $428.85.

Home Depot Trading Up 0.1 %

HD traded up $0.38 during trading on Tuesday, reaching $414.37. The company had a trading volume of 586,658 shares, compared to its average volume of 2,907,873. The stock has a market cap of $411.61 billion, a P/E ratio of 28.15, a PEG ratio of 4.22 and a beta of 1.05. The business has a 50 day simple moving average of $405.88 and a 200-day simple moving average of $394.98. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $3.81 earnings per share. On average, equities analysts anticipate that Home Depot will post 15.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $32,000. NewSquare Capital LLC lifted its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after buying an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot in the 3rd quarter valued at $41,000. Hedge funds and other 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.