Truist Financial Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its price target upped by equities research analysts at Truist Financial from $417.00 to $433.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective points to a potential upside of 6.30% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Jefferies Financial Group dropped their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $420.00 target price on Home Depot and gave the company an “overweight” rating in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.76.

Home Depot Stock Performance

Shares of NYSE HD traded up $12.64 during trading on Wednesday, reaching $407.34. 4,553,380 shares of the company traded hands, compared to its average volume of 3,527,598. The firm’s fifty day simple moving average is $371.05 and its 200 day simple moving average is $371.19. The stock has a market cap of $405.27 billion, a P/E ratio of 27.64, a PEG ratio of 3.80 and a beta of 1.00. Home Depot has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot in the first quarter valued at $406,000. Wealth Management Partners LLC raised its position in Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV raised its position in Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after purchasing an additional 221 shares during the period. ARS Wealth Advisors Group LLC raised its position in Home Depot by 0.8% in the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after purchasing an additional 239 shares during the period. Finally, Tabor Asset Management LP purchased a new stake in Home Depot in the first quarter valued at $5,886,000. Hedge funds and other 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.