Home Depot (NYSE:HD) Price Target Cut to $348.00 by Analysts at Daiwa Capital Markets

Home Depot (NYSE:HD) had its price objective lowered by Daiwa Capital Markets from $399.00 to $348.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a “neutral” rating on the home improvement retailer’s stock. Daiwa Capital Markets’ price target indicates a potential upside of 1.19% from the company’s previous close.

Several other brokerages also recently commented on HD. Evercore ISI dropped their target price on Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Sanford C. Bernstein restated a “market perform” rating and set a $362.00 price objective on shares of Home Depot in a research report on Monday. Argus lowered their target price on shares of Home Depot from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Telsey Advisory Group decreased their price target on shares of Home Depot from $455.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Finally, Truist Financial set a $379.00 target price on Home Depot in a research note on Tuesday, November 18th. Twenty-two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $404.60.

Home Depot Price Performance

Shares of HD traded up $7.33 on Monday, reaching $343.91. The stock had a trading volume of 385,680 shares, compared to its average volume of 3,567,688. Home Depot has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a market capitalization of $342.33 billion, a PE ratio of 23.38, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50-day moving average of $383.62 and a 200 day moving average of $381.09. 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 issued 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 company had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Sell-side analysts expect that Home Depot will post 15.13 EPS for the current year.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parvin Asset Management LLC boosted its holdings 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 worth $26,000 after purchasing an additional 33 shares in the last quarter. Legend Financial Advisors Inc. acquired a new position in Home Depot in the 2nd quarter valued at approximately $28,000. Sagard Holdings Management Inc. bought a new position in Home Depot during the second quarter worth about $29,000. Financially Speaking Inc acquired a new position in shares of Home Depot in the 3rd quarter worth approximately $31,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors 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.