Wells Fargo & Company Boosts Home Depot (NYSE:HD) Price Target to $450.00

Home Depot (NYSE:HD) had its price target raised by investment analysts at Wells Fargo & Company from $440.00 to $450.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.99% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Truist Financial lifted their price target on shares of Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday. DA Davidson boosted their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $429.59.

Home Depot Price Performance

Shares of HD traded up $2.00 during trading hours on Thursday, reaching $409.14. 350,692 shares of the company traded hands, compared to its average volume of 2,862,120. 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 capitalization of $406.42 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The stock has a fifty day simple moving average of $405.21 and a 200 day simple moving average of $395.46. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (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 business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the company earned $3.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that Home Depot will post 15.12 EPS for the current fiscal year.

Insider Transactions at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction 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 approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

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