Home Depot (NYSE:HD) Given New $395.00 Price Target at Citigroup

Home Depot (NYSE:HD) had its price target decreased by equities researchers at Citigroup from $415.00 to $395.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Citigroup’s price target would suggest a potential upside of 16.62% from the company’s previous close.

HD has been the topic of a number of other research reports. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TD Cowen raised their target price on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Wedbush raised their target price on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Wells Fargo & Company raised their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $375.19.

Home Depot Stock Performance

Shares of Home Depot stock opened at $338.70 on Tuesday. The business has a 50-day moving average of $360.47 and a 200 day moving average of $343.54. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market capitalization of $335.66 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 EPS. As a group, sell-side analysts forecast that Home Depot will post 15.37 earnings per share for the current year.

Insider Buying and Selling at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in HD. Cape Investment Advisory Inc. increased its stake in Home Depot by 1.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares during the last quarter. Optas LLC increased its stake in Home Depot by 1.7% in the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. STAR Financial Bank increased its stake in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC increased its stake in Home Depot by 0.8% in the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. increased its stake in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after purchasing an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.