JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its target price upped by research analysts at JPMorgan Chase & Co. from $410.00 to $418.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.22% from the stock’s current price.

HD has been the subject of a number of other reports. Jefferies Financial Group dropped their price target on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday. Finally, Royal Bank of Canada lowered their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $427.92.

Home Depot Stock Performance

Shares of NYSE HD opened at $365.95 on Wednesday. The firm has a 50 day moving average of $359.62 and a 200 day moving average of $387.46. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $363.77 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.63 earnings per share. On average, research analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the company. Wealth Group Ltd. lifted its stake in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after buying an additional 27 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of Home Depot during the fourth quarter worth $281,000. Capital & Planning LLC lifted its stake in shares of Home Depot by 110.2% during the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 563 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Home Depot during the fourth quarter worth $634,000. Finally, Ironwood Wealth Management LLC. lifted its stake in shares of Home Depot by 0.7% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after buying an additional 32 shares during the period. 70.86% of the stock is currently 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.