Truist Financial Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its price objective boosted by Truist Financial from $465.00 to $467.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other analysts have also recently commented on the company. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays boosted their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $431.00.

Home Depot Stock Performance

Home Depot stock opened at $412.64 on Tuesday. The stock’s 50 day simple moving average is $405.21 and its two-hundred day simple moving average is $395.46. 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 stock has a market cap of $409.90 billion, a price-to-earnings ratio of 28.03, a PEG 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 posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.81 EPS. As a group, analysts expect that Home Depot will post 15.12 earnings per share for the current fiscal year.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 worth $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC boosted its holdings in shares of Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Home Depot by 5.5% during the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock valued at $3,521,173,000 after purchasing an additional 468,203 shares during the last quarter. Hedge funds and other 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.