Home Depot (NYSE:HD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Home Depot (NYSE:HD) had its target price lifted by JPMorgan Chase & Co. from $450.00 to $475.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.07% from the stock’s current price.

Several other brokerages have also recently weighed in on HD. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. Telsey Advisory Group raised shares of 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 research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. One equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $428.85.

Home Depot Trading Up 0.6 %

NYSE:HD opened at $416.39 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market cap of $413.63 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The business has a 50 day moving average price of $405.88 and a two-hundred day moving average price of $394.98.

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

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HD. Pegasus Asset Management Inc. raised its position in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares in the last quarter. Pensionfund Sabic raised its position in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB lifted its stake in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $1,793,000. 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.