Home Depot (NYSE:HD) Price Target Cut to $425.00 by Analysts at Evercore ISI

Home Depot (NYSE:HD) had its target price decreased by Evercore ISI from $450.00 to $425.00 in a research note issued to investors on Wednesday, MarketBeat reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

A number of other brokerages have also weighed in on HD. Gordon Haskett reduced their price target on shares of Home Depot from $400.00 to $345.00 in a research note on Monday, November 10th. Robert W. Baird cut their target price on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a research report on Wednesday. Mizuho lifted their price target on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley decreased their target price on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $415.65.

Home Depot Trading Down 0.5%

Shares of HD stock opened at $334.78 on Wednesday. Home Depot has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a market capitalization of $333.24 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average of $388.76 and a two-hundred day moving average of $381.47. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts expect that Home Depot will post 15.13 EPS for the current year.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares of the company’s stock, valued at approximately $6,635,234.11. This represents 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 worth $4,792,086 over the last 90 days. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Home Depot by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after purchasing an additional 331,217 shares in the last quarter. State Street Corp boosted its position in shares of Home Depot by 0.7% in the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after buying an additional 300,352 shares during the period. Geode Capital Management LLC grew its holdings in shares of Home Depot by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after buying an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Home Depot by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after buying an additional 153,582 shares during the period. Finally, Norges Bank purchased a new stake in Home Depot in the 2nd quarter worth about $4,885,603,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.