Home Depot (NYSE:HD) Price Target Cut to $415.00 by Analysts at Evercore ISI

Home Depot (NYSE:HD) had its target price cut by stock analysts at Evercore ISI from $420.00 to $415.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the home improvement retailer’s stock. Evercore ISI’s price target would suggest a potential upside of 24.69% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Truist Financial boosted their price target on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group boosted their price target on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Telsey Advisory Group boosted their price target on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. Finally, Wells Fargo & Company boosted their price target on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Price Performance

Home Depot stock opened at $332.83 on Tuesday. The stock has a market cap of $329.84 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The company has a fifty day simple moving average of $368.54 and a 200-day simple moving average of $339.01. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.30 EPS. Equities analysts expect that Home Depot will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently made changes to their positions in the stock. Bare Financial Services Inc acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $27,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot during the 4th quarter valued at $31,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot during the 1st quarter valued at $27,000. Finally, PFG Private Wealth Management LLC lifted its holdings in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. 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.