Home Depot (NYSE:HD) PT Lowered to $280.00

Home Depot (NYSE:HDGet Rating) had its price target lowered by equities research analysts at Wedbush to $280.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. Wedbush’s target price points to a potential downside of 10.10% from the company’s current price. Wedbush also issued estimates for Home Depot’s Q4 2023 earnings at $3.24 EPS, FY2023 earnings at $16.62 EPS, Q1 2024 earnings at $4.04 EPS, Q2 2024 earnings at $4.79 EPS, Q3 2024 earnings at $4.04 EPS and Q4 2024 earnings at $3.15 EPS.

HD has been the topic of a number of other research reports. Citigroup dropped their price objective on Home Depot from $348.00 to $340.00 in a report on Monday, October 31st. Morgan Stanley increased their price target on shares of Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. The Goldman Sachs Group lowered their target price on shares of Home Depot from $366.00 to $329.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. Exane BNP Paribas downgraded shares of Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price target for the company. in a research report on Wednesday, October 19th. Finally, BNP Paribas cut Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price target on the stock. in a report on Wednesday, October 19th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $346.29.

Home Depot Stock Down 1.1 %

Shares of Home Depot stock opened at $311.44 on Wednesday. The company has a market cap of $318.83 billion, a P/E ratio of 18.77, a PEG ratio of 1.67 and a beta of 0.95. The firm has a fifty day moving average of $286.13 and a two-hundred day moving average of $292.44. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.25 and a current ratio of 1.39. Home Depot has a one year low of $264.51 and a one year high of $420.61.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The firm had revenue of $38.87 billion during the quarter, compared to analysts’ expectations of $37.96 billion. During the same period in the prior year, the company posted $3.92 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts forecast that Home Depot will post 16.65 earnings per share for the current year.

Home Depot announced that its board has approved a stock repurchase plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC lifted its stake in Home Depot by 1.5% during the second quarter. Measured Wealth Private Client Group LLC now owns 2,294 shares of the home improvement retailer’s stock worth $629,000 after purchasing an additional 33 shares during the period. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Home Depot by 5.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 648 shares of the home improvement retailer’s stock worth $178,000 after buying an additional 33 shares in the last quarter. Virtue Capital Management LLC lifted its position in shares of Home Depot by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock worth $683,000 after buying an additional 33 shares during the period. Bernardo Wealth Planning LLC boosted its stake in Home Depot by 5.1% in the 1st quarter. Bernardo Wealth Planning LLC now owns 706 shares of the home improvement retailer’s stock valued at $211,000 after buying an additional 34 shares in the last quarter. Finally, Coastal Bridge Advisors LLC grew its position in Home Depot by 0.6% in the third quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock valued at $1,585,000 after acquiring an additional 34 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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