Home Depot (NYSE:HD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Home Depot (NYSE:HD) had its price objective lifted by stock analysts at Morgan Stanley from $415.00 to $430.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s target price would suggest a potential upside of 8.19% from the company’s current price.

HD has been the topic of several other reports. Jefferies Financial Group dropped their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday. Finally, Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $432.52.

Home Depot Stock Performance

NYSE HD opened at $397.45 on Wednesday. The company has a fifty day simple moving average of $373.34 and a 200 day simple moving average of $371.56. 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 1.15, a quick ratio of 0.28 and a debt-to-equity ratio of 4.31. The company has a market cap of $395.43 billion, a P/E ratio of 27.00, a PEG ratio of 3.81 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the business posted $4.60 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts predict that Home Depot will post 15.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Home Depot by 4.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after buying an additional 565 shares in the last quarter. Harvest Investment Services LLC grew its holdings in Home Depot by 84.0% during the 4th quarter. Harvest Investment Services LLC now owns 1,038 shares of the home improvement retailer’s stock valued at $404,000 after buying an additional 474 shares in the last quarter. MGO One Seven LLC grew its holdings in Home Depot by 13.8% during the 4th quarter. MGO One Seven LLC now owns 25,894 shares of the home improvement retailer’s stock valued at $10,073,000 after buying an additional 3,147 shares in the last quarter. Finally, Syon Capital LLC grew its holdings in Home Depot by 2.0% during the 4th quarter. Syon Capital LLC now owns 7,121 shares of the home improvement retailer’s stock valued at $2,770,000 after buying an additional 143 shares in the last quarter. 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.