Home Depot (NYSE:HD) Trading 0% Higher Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s stock price traded up 0% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $440.00 to $450.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as high as $418.00 and last traded at $412.53. 600,181 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,875,594 shares. The stock had previously closed at $412.43.

A number of other research analysts have also recently issued reports on HD. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, Truist Financial lifted their price target on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $433.44.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the company. Pegasus Asset Management Inc. lifted its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Pensionfund Sabic lifted its holdings in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares in the last quarter. Swedbank AB lifted its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth $1,793,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

The firm’s fifty day moving average price is $404.93 and its 200 day moving average price is $395.58. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $406.76 billion, a PE ratio of 27.82, a P/E/G ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS 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.