Robert W. Baird Lowers Home Depot (NYSE:HD) Price Target to $425.00

Home Depot (NYSE:HD) had its target price lowered by equities researchers at Robert W. Baird from $430.00 to $425.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s target price suggests a potential upside of 16.14% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Sanford C. Bernstein upped their price target on shares of Home Depot from $380.00 to $398.00 and gave the stock a “market perform” rating in a research report on Wednesday. DA Davidson reduced their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday. Gordon Haskett upped their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday. Truist Financial upped their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $427.92.

Home Depot Stock Down 1.3%

Shares of NYSE HD opened at $365.95 on Wednesday. The firm’s 50-day simple moving average is $359.62 and its 200 day simple moving average is $387.46. The company has a market cap 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. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly 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 company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $3.63 EPS. On average, research analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock valued at $35,360,494,000 after buying an additional 720,447 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after buying an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV boosted its holdings in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after buying an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after buying an additional 891,326 shares during the period. Finally, Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Institutional investors own 70.86% of the company’s stock.

About Home Depot

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.