Home Depot (NYSE:HD) PT Lowered to $323.00

Home Depot (NYSE:HDGet Rating) had its target price cut by equities researchers at Piper Sandler from $327.00 to $323.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the home improvement retailer’s stock. Piper Sandler’s target price would suggest a potential upside of 3.71% from the company’s current price.

Other research analysts have also recently issued reports about the company. DA Davidson raised their target price on Home Depot to $334.00 in a research report on Monday, August 22nd. Cowen started coverage on Home Depot in a report on Wednesday, October 19th. They set an “outperform” rating and a $350.00 price objective for the company. Wedbush lifted their price objective on Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th. StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. Finally, MKM Partners cut their price objective on Home Depot from $330.00 to $312.00 in a report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.29.

Home Depot Stock Down 1.1 %

Shares of HD stock opened at $311.44 on Wednesday. The stock has a market cap of $318.83 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95. Home Depot has a one year low of $264.51 and a one year high of $420.61. The stock has a fifty day moving average price of $286.13 and a 200 day moving average price of $292.44. The company has a debt-to-equity ratio of 32.16, a current ratio of 1.39 and a quick ratio of 0.25.

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

Home Depot declared that its Board of Directors has initiated a share buyback program on Thursday, August 18th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the firm’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 transaction, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Home Depot news, 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 transaction of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Fahim Siddiqui sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the transaction, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC bought a new position in shares of Home Depot during the 1st quarter valued at about $25,000. First Personal Financial Services lifted its holdings in shares of Home Depot by 81.1% during the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Fairfield Bush & CO. bought a new position in shares of Home Depot during the 1st quarter valued at about $27,000. Clear Perspectives Financial Planning LLC lifted its holdings in shares of Home Depot by 135.0% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. bought a new position in shares of Home Depot during the 2nd quarter valued at about $28,000. Institutional investors own 68.66% of the company’s stock.

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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