Home Depot (NYSE:HD) Given New $414.00 Price Target at Wolfe Research

by · The Cerbat Gem

Home Depot (NYSE:HD – Get Free Report) had its target price cut by research analysts at Wolfe Research from $423.00 to $414.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the home improvement retailer’s stock. Wolfe Research’s target price would indicate a potential upside of 15.02% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Evercore ISI reduced their target price on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Oppenheimer dropped their price objective on Home Depot from $420.00 to $405.00 and set a “market perform” rating on the stock in a report on Friday, December 5th. Mizuho boosted their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Wall Street Zen lowered shares of Home Depot from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Stifel Nicolaus reduced their price objective on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research report on Monday, December 1st. Twenty-one research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $401.17.

Read Our Latest Report on Home Depot

Home Depot Trading Up 0.7%

Shares of HD stock traded up $2.49 during trading hours on Wednesday, hitting $359.95. The company had a trading volume of 222,538 shares, compared to its average volume of 3,645,836. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The stock has a market capitalization of $358.33 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 6.19 and a beta of 1.06. The company’s fifty day moving average is $369.05 and its 200 day moving average is $379.25. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $426.75.

Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same period in the previous year, the firm earned $3.78 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Research analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Painted Porch Advisors LLC grew its position in Home Depot by 16.6% during the third quarter. Painted Porch Advisors LLC now owns 373 shares of the home improvement retailer’s stock worth $151,000 after buying an additional 53 shares during the period. Alecta Tjanstepension Omsesidigt increased its stake in Home Depot by 101.6% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 284,000 shares of the home improvement retailer’s stock valued at $115,071,000 after purchasing an additional 143,100 shares in the last quarter. Saranac Partners Ltd acquired a new position in Home Depot during the third quarter worth $374,000. Severin Investments LLC grew its holdings in Home Depot by 3.9% in the third quarter. Severin Investments LLC now owns 1,903 shares of the home improvement retailer’s stock valued at $771,000 after purchasing an additional 72 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Home Depot by 1.9% in the third quarter. Allworth Financial LP now owns 204,834 shares of the home improvement retailer’s stock valued at $82,997,000 after purchasing an additional 3,831 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile

(Get Free Report)

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.

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