Home Depot (NYSE:HD) Stock Price Expected to Rise, Barclays Analyst Says

Home Depot (NYSE:HD) had its target price increased by Barclays from $372.00 to $420.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Barclays‘s price objective suggests a potential upside of 8.19% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Truist Financial boosted their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $416.37.

Home Depot Stock Performance

HD stock opened at $388.19 on Tuesday. The company has a market capitalization of $385.59 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 2.74 and a beta of 1.01. The firm has a 50 day moving average of $393.80 and a two-hundred day moving average of $363.10. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. Home Depot has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, equities analysts anticipate that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the period. Empirical Finance LLC lifted its stake in Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the period. Pegasus Asset Management Inc. boosted its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC grew its position in shares of Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares during the period. Finally, Swedbank AB increased its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. 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.