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

Home Depot (NYSE:HD) had its price objective raised by equities research analysts at Truist Financial from $459.00 to $465.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price would suggest a potential upside of 14.64% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. UBS Group raised their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Piper Sandler boosted their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $405.60 on Wednesday. The company has a 50 day moving average price of $397.67 and a 200 day moving average price of $365.56. The firm has a market capitalization of $402.88 billion, a P/E ratio of 27.55, a PEG ratio of 2.83 and a beta of 1.01. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $302.34 and a 52 week high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during 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 firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. Sell-side analysts expect that Home Depot will post 15.06 EPS for the current year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. Kestra Investment Management LLC acquired a new stake in shares of Home Depot in the 3rd quarter worth approximately $1,330,000. Paradigm Capital Management LLC NV purchased a new position in shares of Home Depot in the third quarter valued at $472,000. FSA Wealth Management LLC purchased a new stake in shares of Home Depot in the 3rd quarter worth about $160,000. B&L Asset Management LLC acquired a new stake in Home Depot in the 3rd quarter valued at about $725,000. Finally, Erste Asset Management GmbH purchased a new position in Home Depot during the 3rd quarter valued at about $49,714,000. 70.86% of the stock is currently owned by hedge funds and other 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.