Home Depot (NYSE:HD) Given New $406.00 Price Target at The Goldman Sachs Group

Home Depot (NYSE:HD) had its price objective cut by investment analysts at The Goldman Sachs Group from $444.00 to $406.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. The Goldman Sachs Group’s target price points to a potential upside of 20.64% from the stock’s previous close.

Several other analysts also recently issued reports on HD. Sanford C. Bernstein upped their price target on Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Morgan Stanley reduced their target price on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday. DZ Bank reiterated a “sell” rating on shares of Home Depot in a report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Home Depot in a research report on Thursday, November 13th. Finally, DA Davidson restated a “buy” rating and issued a $475.00 price objective on shares of Home Depot in a research note on Tuesday. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $417.71.

Home Depot Stock Performance

HD stock opened at $336.55 on Wednesday. The firm has a 50 day moving average of $390.33 and a two-hundred day moving average of $381.80. Home Depot has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $334.99 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities analysts anticipate that Home Depot will post 15.13 EPS for the current fiscal year.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 44,466 shares of company stock worth $17,859,432. 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. Parvin Asset Management LLC increased its stake in Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 33 shares during the period. Legend Financial Advisors Inc. bought a new position in Home Depot during the second quarter worth about $28,000. Sagard Holdings Management Inc. acquired a new stake in Home Depot during the second quarter valued at approximately $29,000. Financially Speaking Inc bought a new stake in shares of Home Depot in the 3rd quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds 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.