Home Depot (NYSE:HD) Stock Price Expected to Rise, Truist Financial Analyst Says

Home Depot (NYSE:HD) had its price target boosted by investment analysts at Truist Financial from $465.00 to $467.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price indicates a potential upside of 12.70% from the stock’s current price.

A number of other brokerages have also recently commented on HD. Bank of America raised their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Morgan Stanley raised their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $428.85.

Home Depot Trading Up 0.1 %

Shares of NYSE:HD traded up $0.38 during midday trading on Tuesday, reaching $414.37. 586,658 shares of the company’s stock were exchanged, compared to its average volume of 2,907,873. The firm’s 50 day simple moving average is $405.88 and its two-hundred day simple moving average is $394.98. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market cap of $411.61 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 4.22 and a beta of 1.05. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $3.81 EPS. As a group, sell-side analysts forecast that Home Depot will post 15.12 EPS for the current fiscal year.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors have recently bought and sold shares of the company. AMF Tjanstepension AB increased its stake in Home Depot by 10.8% in the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after purchasing an additional 16,650 shares during the last quarter. SYM FINANCIAL Corp increased its stake in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the last quarter. Wealth Group Ltd. acquired a new position in Home Depot in the third quarter valued at $217,000. CX Institutional increased its stake in Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after purchasing an additional 22,668 shares during the last quarter. Finally, Creative Planning increased its stake in Home Depot by 7.0% during the third quarter. Creative Planning now owns 513,327 shares of the home improvement retailer’s stock worth $199,295,000 after acquiring an additional 33,703 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Company Profile

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.