Home Depot (NYSE:HD) Given New $450.00 Price Target at TD Cowen

Home Depot (NYSE:HD) had its price objective raised by stock analysts at TD Cowen from $410.00 to $450.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. TD Cowen’s target price would indicate a potential upside of 19.98% from the stock’s previous close.

A number of other analysts have also recently weighed in on HD. Citigroup cut their price objective on shares of Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Zacks Research downgraded shares of Home Depot from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 27th. Gordon Haskett cut their target price on Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, November 19th. Stifel Nicolaus decreased their target price on Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research report on Monday, December 1st. Finally, Robert W. Baird cut their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.50.

Home Depot Stock Down 1.3%

Shares of HD traded down $5.10 during midday trading on Tuesday, hitting $375.07. The company had a trading volume of 2,442,200 shares, compared to its average volume of 4,549,229. Home Depot has a 1 year low of $326.31 and a 1 year high of $426.75. The company’s 50-day simple moving average is $355.04 and its 200-day simple moving average is $378.25. The firm has a market capitalization of $373.39 billion, a P/E ratio of 25.57, a P/E/G ratio of 14.16 and a beta of 1.08. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05.

Home Depot (NYSE:HD) last announced its quarterly 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 return on equity of 160.74% and a net margin of 8.77%.The business had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. During the same period last year, the firm earned $3.78 earnings per share. The firm’s quarterly 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, sell-side analysts expect that Home Depot will post 15.13 EPS for the current year.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 2,872 shares of the business’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the transaction, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. The trade was a 17.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,963 shares of company stock worth $1,748,845 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Home Depot by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after purchasing an additional 331,217 shares during the period. State Street Corp lifted its stake in shares of Home Depot by 0.7% during the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after purchasing an additional 300,352 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after buying an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Home Depot by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after buying an additional 153,582 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $4,885,603,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.