Home Depot (NYSE:HD) Price Target Raised to $450.00 at Wells Fargo & Company

Home Depot (NYSE:HD) had its price objective hoisted by Wells Fargo & Company from $440.00 to $450.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

Several other equities research analysts have also recently commented on the company. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $431.00.

Home Depot Price Performance

HD stock opened at $412.64 on Thursday. The company has a market capitalization of $409.90 billion, a P/E ratio of 28.03, a PEG ratio of 4.22 and a beta of 1.05. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The business has a 50 day simple moving average of $405.21 and a 200-day simple moving average of $395.46. 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, 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the company earned $3.81 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Home Depot will post 15.12 EPS for the current year.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated 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 approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. AMF Tjanstepension AB lifted its stake in shares of Home Depot by 10.8% in the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after purchasing an additional 16,650 shares in the last quarter. SYM FINANCIAL Corp raised its holdings in shares of Home Depot by 17.8% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the period. Wealth Group Ltd. purchased a new stake in shares of Home Depot during the 3rd quarter valued at about $217,000. Creative Planning raised its holdings in shares of Home Depot by 7.0% during the 3rd quarter. Creative Planning now owns 513,327 shares of the home improvement retailer’s stock valued at $199,295,000 after buying an additional 33,703 shares during the period. Finally, Swedbank AB raised its holdings in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the period. 70.86% of the stock is 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.