Home Depot (NYSE:HD) Price Target Cut to $414.00 by Analysts at Wolfe Research

Home Depot (NYSE:HD) had its price target reduced by analysts at Wolfe Research from $415.00 to $414.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the home improvement retailer’s stock. Wolfe Research’s price objective would suggest a potential upside of 6.93% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Guggenheim reduced their price objective on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. KGI Securities cut Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 price objective for the company. in a research note on Wednesday, November 19th. Royal Bank Of Canada reduced their target price on shares of Home Depot from $376.00 to $366.00 and set a “sector perform” rating for the company in a report on Wednesday, December 10th. Daiwa Capital Markets lifted their price objective on shares of Home Depot from $348.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Finally, Argus decreased their target price on shares of Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $404.47.

Home Depot Price Performance

Shares of NYSE HD traded up $6.07 during midday trading on Wednesday, reaching $387.17. 279,418 shares of the stock traded hands, compared to its average volume of 4,369,414. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. Home Depot has a one year low of $326.31 and a one year high of $426.75. The company’s 50 day moving average is $361.11 and its 200 day moving average is $379.28. The stock has a market capitalization of $385.43 billion, a PE ratio of 26.44, a P/E/G ratio of 13.50 and a beta of 1.08.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities research analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Insider Activity

In related news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the sale, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the transaction, the executive vice president owned 13,196 shares of the company’s stock, valued at $4,599,069.92. This trade represents a 17.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,963 shares of company stock valued at $1,748,845. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Home Depot by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after acquiring an additional 1,325,748 shares in the last quarter. State Street Corp increased its holdings in shares of Home Depot by 0.7% in the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after purchasing an additional 300,352 shares in the last quarter. Geode Capital Management LLC increased its holdings in Home Depot by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after buying an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after buying an additional 153,582 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Home Depot in the second quarter valued at approximately $4,885,603,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.