Bank of America Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price objective decreased by research analysts at Bank of America from $450.00 to $430.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Bank of America‘s price objective points to a potential upside of 29.32% from the company’s current price.

HD has been the topic of several other reports. Wolfe Research assumed coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Home Depot in a research note on Thursday, November 13th. Truist Financial set a $379.00 price target on shares of Home Depot in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Finally, DA Davidson reiterated a “buy” rating and set a $475.00 target price on shares of Home Depot in a research note on Tuesday. Twenty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $410.36.

Home Depot Price Performance

Shares of NYSE HD opened at $332.50 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The business’s 50 day moving average price is $386.94 and its two-hundred day moving average price is $381.13. The company has a market cap of $330.97 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Home Depot has a twelve month low of $326.31 and a twelve month high of $439.37.

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

Insider Activity

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors have recently modified their holdings of HD. Centerpoint Advisory Group grew its stake in Home Depot by 0.8% during the second quarter. Centerpoint Advisory Group now owns 3,163 shares of the home improvement retailer’s stock worth $1,160,000 after buying an additional 26 shares in the last quarter. Disciplined Investors L.L.C. lifted its holdings in shares of Home Depot by 2.3% during the 2nd quarter. Disciplined Investors L.L.C. now owns 1,178 shares of the home improvement retailer’s stock worth $432,000 after acquiring an additional 26 shares during the period. Brio Consultants LLC lifted its holdings in shares of Home Depot by 4.7% during the 2nd quarter. Brio Consultants LLC now owns 574 shares of the home improvement retailer’s stock worth $210,000 after acquiring an additional 26 shares during the period. Emprise Bank boosted its position in shares of Home Depot by 0.8% during the 3rd quarter. Emprise Bank now owns 3,135 shares of the home improvement retailer’s stock worth $1,270,000 after acquiring an additional 26 shares in the last quarter. Finally, Stegent Equity Advisors Inc. increased its stake in Home Depot by 2.7% in the third quarter. Stegent Equity Advisors Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after acquiring an additional 26 shares during the last quarter. 70.86% of the stock is currently owned by 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.