Home Depot (NYSE:HD) Price Target Raised to $475.00

Home Depot (NYSE:HD) had its price target lifted by JPMorgan Chase & Co. from $450.00 to $475.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

A number of other brokerages have also recently issued reports on HD. TD Cowen boosted their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, DA Davidson boosted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $428.85.

Home Depot Trading Down 2.2 %

Shares of Home Depot stock opened at $407.20 on Monday. The firm has a 50-day moving average of $405.62 and a 200-day moving average of $395.38. The stock has a market cap of $404.50 billion, a PE ratio of 27.66, a PEG ratio of 4.22 and a beta of 1.05. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Insider Activity

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

Institutional Trading of Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

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.