Home Depot (NYSE:HD) Price Target Cut to $423.00 by Analysts at JPMorgan Chase & Co.

Home Depot (NYSE:HD) had its price objective trimmed by JPMorgan Chase & Co. from $444.00 to $423.00 in a report issued on Wednesday morning,MarketScreener reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

HD has been the subject of several other research reports. Oppenheimer lifted their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $370.00 price objective (down from $440.00) on shares of Home Depot in a research note on Friday, November 14th. Bank of America decreased their target price on Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday. Telsey Advisory Group dropped their target price on Home Depot from $455.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, DA Davidson reiterated a “buy” rating and set a $475.00 price target on shares of Home Depot in a research note on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $415.65.

Home Depot Stock Down 0.5%

Shares of HD opened at $334.78 on Wednesday. The company’s 50-day moving average price is $388.76 and its 200 day moving average price is $381.47. 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 0.34 and a debt-to-equity ratio of 4.31. The firm has a market cap of $333.24 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. During the same period last year, the business earned $3.78 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts forecast that Home Depot will post 15.13 earnings per share for the current year.

Insider Activity

In other news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,569 shares of company stock valued at $4,792,086 in the last quarter. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently modified their holdings of the company. Mainstay Capital Management LLC ADV purchased a new position in Home Depot during the second quarter worth about $263,000. WealthPlan Investment Management LLC purchased a new position in shares of Home Depot during the 2nd quarter worth about $1,149,000. Tower View Wealth Management LLC lifted its holdings in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after acquiring an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Home Depot in the first quarter worth approximately $3,851,000. Finally, Shell Asset Management Co. grew its holdings in Home Depot by 45.2% in the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.