Truist Financial Lowers Home Depot (NYSE:HD) Price Target to $437.00

Home Depot (NYSE:HD) had its price target lowered by Truist Financial from $467.00 to $437.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price target would suggest a potential upside of 11.05% from the stock’s previous close.

A number of other analysts have also weighed in on HD. Mizuho raised their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI lifted their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $435.92.

Home Depot Price Performance

Home Depot stock opened at $393.52 on Wednesday. The business’s fifty day moving average is $401.23 and its two-hundred day moving average is $398.48. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market cap of $390.90 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.03 and a beta of 1.05. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Equities research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC raised its position in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Northern Trust Corp lifted its stake in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Home Depot during the 4th quarter worth approximately $471,189,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Company Profile

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.