Wells Fargo & Company Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its target price lifted by Wells Fargo & Company from $420.00 to $450.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.22% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday. Robert W. Baird boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Morgan Stanley lifted their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Gordon Haskett increased their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. One 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $432.52.

Home Depot Price Performance

Shares of Home Depot stock opened at $397.45 on Wednesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.28. The company has a market cap of $395.43 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 3.81 and a beta of 1.00. The firm has a fifty day moving average price of $373.34 and a two-hundred day moving average price of $371.56. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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). The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts expect that Home Depot will post 15.13 EPS for the current year.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position 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 worth $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. Harvest Investment Services LLC grew its holdings in shares of Home Depot by 84.0% during the fourth quarter. Harvest Investment Services LLC now owns 1,038 shares of the home improvement retailer’s stock worth $404,000 after purchasing an additional 474 shares during the last quarter. MGO One Seven LLC increased its stake in shares of Home Depot by 13.8% in the fourth 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 raised its holdings in shares of Home Depot by 2.0% in the fourth 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 during the last quarter. 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.