Home Depot (NYSE:HD) PT Lowered to $318.00

Home Depot (NYSE:HDGet Rating) had its price objective cut by equities research analysts at Truist Financial from $352.00 to $318.00 in a research report issued on Wednesday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 7.74% from the stock’s previous close.

A number of other brokerages have also recently commented on HD. Piper Sandler dropped their target price on shares of Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Morgan Stanley lowered their target price on shares of Home Depot from $360.00 to $340.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Evercore ISI cut their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 22nd. Wells Fargo & Company reduced their price objective on Home Depot from $350.00 to $325.00 in a research report on Wednesday. Finally, Credit Suisse Group dropped their target price on Home Depot from $320.00 to $310.00 in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.25.

Home Depot Stock Performance

Shares of HD opened at $295.16 on Wednesday. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.33. Home Depot has a one year low of $264.51 and a one year high of $347.25. The company has a 50-day simple moving average of $290.58 and a two-hundred day simple moving average of $306.08. The firm has a market capitalization of $298.90 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93.

Home Depot (NYSE:HDGet Rating) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. The firm had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.09 EPS. On average, analysts anticipate that Home Depot will post 15.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teamwork Financial Advisors LLC grew its stake in shares of Home Depot by 1.4% in the 4th quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock worth $729,000 after buying an additional 31 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its holdings in shares of Home Depot by 0.5% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 5,769 shares of the home improvement retailer’s stock valued at $1,822,000 after acquiring an additional 31 shares during the last quarter. Summit Asset Management LLC grew its position in Home Depot by 0.9% in the fourth quarter. Summit Asset Management LLC now owns 3,491 shares of the home improvement retailer’s stock worth $1,103,000 after acquiring an additional 31 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in Home Depot by 0.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock worth $1,830,000 after acquiring an additional 32 shares during the last quarter. Finally, Monterey Private Wealth Inc. raised its position in Home Depot by 2.2% during the fourth quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

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