JPMorgan Chase & Co. Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price cut by research analysts at JPMorgan Chase & Co. from $470.00 to $410.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.09% from the stock’s current price.

A number of other research analysts have also recently issued reports on HD. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Gordon Haskett lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.52.

Home Depot Trading Up 0.9 %

Shares of NYSE:HD opened at $362.55 on Tuesday. The business’s 50 day simple moving average is $359.10 and its 200 day simple moving average is $389.39. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. 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 company has a market capitalization of $360.38 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.03 and a beta of 1.05.

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

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Norges Bank bought a new stake in Home Depot during the 4th quarter valued at $5,032,910,000. Finally, Capital Research Global Investors raised its holdings in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after buying an additional 647,552 shares during the last quarter. 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.