Robert W. Baird Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price cut by equities researchers at Robert W. Baird from $450.00 to $415.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s price target suggests a potential upside of 24.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. DA Davidson reissued a “buy” rating and set a $475.00 price target on shares of Home Depot in a research note on Tuesday. Mizuho increased their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Home Depot in a research report on Thursday, November 13th. Oppenheimer boosted their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Finally, 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. Twenty investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $410.36.

Home Depot Price Performance

HD stock opened at $332.50 on Wednesday. The stock has a market cap of $330.97 billion, a PE ratio of 22.59, a P/E/G ratio of 3.59 and a beta of 1.00. Home Depot has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a 50-day moving average price of $386.94 and a 200 day moving average price of $381.13. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last posted 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same period last year, the company earned $3.78 earnings per share. The business’s revenue for the quarter 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. Equities research analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mainstay Capital Management LLC ADV purchased a new position in shares of Home Depot in the second quarter worth about $263,000. WealthPlan Investment Management LLC purchased a new stake in Home Depot in the second quarter valued at approximately $1,149,000. Tower View Wealth Management LLC increased its holdings in Home Depot by 4.3% in 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 buying an additional 671 shares during the period. Ransom Advisory Ltd acquired a new position in Home Depot in the 1st quarter worth approximately $3,851,000. Finally, Shell Asset Management Co. raised its position in Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after buying an additional 15,002 shares during 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.