Home Depot (NYSE:HD) Price Target Cut to $353.00 by Analysts at BNP Paribas Exane

Home Depot (NYSE:HD) had its price target dropped by stock analysts at BNP Paribas Exane from $391.00 to $353.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the home improvement retailer’s stock. BNP Paribas Exane’s price target points to a potential upside of 4.55% from the company’s current price.

A number of other research analysts have also commented on HD. Truist Financial set a $379.00 price target on shares of Home Depot in a research note on Tuesday. Royal Bank Of Canada reduced their price objective on Home Depot from $401.00 to $376.00 and set a “sector perform” rating for the company in a report on Wednesday. HSBC lowered their target price on Home Depot from $445.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday. Argus decreased their price objective on Home Depot from $450.00 to $425.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Mizuho lifted their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Twenty equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.36.

Home Depot Stock Performance

Shares of NYSE HD traded up $3.14 during midday trading on Wednesday, hitting $337.64. 758,712 shares of the company’s stock were exchanged, compared to its average volume of 3,538,091. 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 has a 12 month low of $326.31 and a 12 month high of $439.37. The company’s 50 day moving average price is $388.76 and its 200 day moving average price is $381.47. The firm has a market capitalization of $336.08 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

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

Insider Transactions at Home Depot

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,569 shares of company stock valued at $4,792,086. 0.10% of the stock is owned by insiders.

Institutional Trading of Home Depot

Several large investors have recently bought and sold shares of HD. Norges Bank bought a new stake in Home Depot during the second quarter worth $4,885,603,000. Laurel Wealth Advisors LLC raised its stake in shares of Home Depot by 36,207.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after purchasing an additional 10,049,029 shares during the period. Nuveen LLC bought a new position in Home Depot during the first quarter valued at about $2,076,592,000. Valeo Financial Advisors LLC boosted its stake in Home Depot by 16,746.9% in the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after acquiring an additional 4,510,944 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.