Home Depot (NYSE:HD) Given New $393.00 Price Target at Truist Financial

Home Depot (NYSE:HD) had its target price boosted by research analysts at Truist Financial from $391.00 to $393.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price target would indicate a potential upside of 8.40% from the company’s current price.

Other equities analysts have also issued research reports about the company. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a report on Tuesday. Robert W. Baird dropped 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. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $431.52.

Home Depot Price Performance

Shares of HD stock opened at $362.55 on Tuesday. The stock has a 50 day moving average price of $359.10 and a 200 day moving average price of $389.39. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm 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 released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) 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 company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the company earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Renaissance Investment Group LLC raised its holdings in shares of Home Depot by 4.2% during the first quarter. Renaissance Investment Group LLC now owns 38,757 shares of the home improvement retailer’s stock worth $14,204,000 after purchasing an additional 1,562 shares during the last quarter. Canopy Partners LLC lifted its holdings in shares of Home Depot by 4.2% in the 1st quarter. Canopy Partners LLC now owns 2,445 shares of the home improvement retailer’s stock valued at $896,000 after buying an additional 99 shares during the period. Kirtland Hills Capital Management LLC boosted its stake in shares of Home Depot by 18.8% in the first quarter. Kirtland Hills Capital Management LLC now owns 3,589 shares of the home improvement retailer’s stock worth $1,274,000 after buying an additional 568 shares during the last quarter. Fiera Capital Corp raised its position in Home Depot by 21.3% during the first quarter. Fiera Capital Corp now owns 19,625 shares of the home improvement retailer’s stock valued at $7,192,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Ramirez Asset Management Inc. lifted its holdings in Home Depot by 12.2% in the first quarter. Ramirez Asset Management Inc. now owns 2,674 shares of the home improvement retailer’s stock valued at $980,000 after acquiring an additional 291 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.