Zacks Research Upgrades Home Depot (NYSE:HD) to “Hold”

Home Depot (NYSE:HD) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on HD. TD Cowen raised their price target on Home Depot from $410.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Oppenheimer cut their target price on shares of Home Depot from $420.00 to $405.00 and set a “market perform” rating on the stock in a research note on Friday, December 5th. Telsey Advisory Group dropped their price target on shares of Home Depot from $430.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. HSBC dropped their target price on Home Depot from $445.00 to $400.00 and set a “hold” rating on the stock in a report on Wednesday, November 19th. Finally, UBS Group set a $430.00 target price on Home Depot in a research report on Wednesday, December 10th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $404.47.

Home Depot Stock Performance

Shares of NYSE:HD traded up $0.84 during trading on Monday, hitting $390.52. The stock had a trading volume of 1,265,228 shares, compared to its average volume of 4,372,052. The stock has a market capitalization of $388.77 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 13.60 and a beta of 1.08. The stock has a 50-day simple moving average of $363.99 and a two-hundred day simple moving average of $379.73. Home Depot has a 12-month low of $326.31 and a 12-month high of $426.75. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

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

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total value of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the business’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the transaction, the executive vice president owned 13,196 shares in the company, valued at approximately $4,599,069.92. This trade represents a 17.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,963 shares of company stock valued at $1,748,845 in the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently modified their holdings of the stock. Parvin Asset Management LLC lifted its position in Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 33 shares in the last quarter. Key Capital Management INC purchased a new position in Home Depot in the fourth quarter valued at about $28,000. Sagard Holdings Management Inc. purchased a new stake in shares of Home Depot during the 2nd quarter worth about $29,000. Financially Speaking Inc acquired a new stake in shares of Home Depot during the 3rd quarter valued at about $31,000. Finally, Navalign LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $31,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

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.