Home Depot (NYSE:HD) Given New $410.00 Price Target at Morgan Stanley

Home Depot (NYSE:HD) had its price objective reduced by stock analysts at Morgan Stanley from $450.00 to $410.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 14.02% from the stock’s current price.

HD has been the subject of several other reports. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $430.12.

Home Depot Stock Performance

Home Depot stock opened at $359.58 on Monday. The firm has a market capitalization of $357.43 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a 1-year low of $323.77 and a 1-year high of $439.37. The firm’s 50 day simple moving average is $359.78 and its 200 day simple moving average is $389.58. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company posted $2.82 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at $28,000. Navigoe LLC purchased a new stake in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $32,000. Finally, Abound Financial LLC purchased a new position in shares of Home Depot during the first quarter valued at about $31,000. 70.86% of the stock is owned by 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.