Wolfe Research Lowers Home Depot (NYSE:HD) Price Target to $423.00

Home Depot (NYSE:HD) had its price target dropped by analysts at Wolfe Research from $497.00 to $423.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Wolfe Research’s price target would suggest a potential upside of 20.43% from the company’s current price.

A number of other research firms also recently commented on HD. TD Cowen dropped their price objective on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Truist Financial set a $379.00 price target on shares of Home Depot in a research report on Tuesday, November 18th. Evercore ISI cut their price target on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. The Goldman Sachs Group lowered their price objective on shares of Home Depot from $444.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada dropped their price objective on Home Depot from $401.00 to $376.00 and set a “sector perform” rating for the company in a report on Wednesday, November 19th. Twenty-two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.60.

Home Depot Trading Up 4.4%

Shares of HD opened at $351.23 on Monday. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a market capitalization of $349.61 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average of $382.21 and a two-hundred day moving average of $381.01. 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 posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (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 analyst estimates of $41.06 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, analysts forecast that Home Depot will post 15.13 EPS for the current year.

Insiders Place Their Bets

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The stock was 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 in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parvin Asset Management LLC lifted its position in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 33 shares in the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the second quarter valued at approximately $28,000. Sagard Holdings Management Inc. acquired a new position in shares of Home Depot during the second quarter worth $29,000. Financially Speaking Inc purchased a new position in shares of Home Depot in the third quarter valued at $31,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Home Depot in the second quarter valued at $32,000. Institutional investors and hedge funds 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.