Home Depot’s (HD) Reduce Rating Reiterated at HSBC

Home Depot (NYSE:HDGet Free Report)‘s stock had its “reduce” rating reissued by stock analysts at HSBC in a report released on Wednesday, Benzinga reports. They currently have a $323.00 price objective on the home improvement retailer’s stock. HSBC’s price target suggests a potential downside of 10.62% from the company’s previous close.

Other analysts also recently issued reports about the stock. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Robert W. Baird reiterated an “outperform” rating and issued a $370.00 target price on shares of Home Depot in a report on Wednesday, February 14th. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Finally, Guggenheim boosted their target price on shares of Home Depot from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.35.

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Home Depot Price Performance

Shares of HD stock traded down $1.62 during midday trading on Wednesday, reaching $361.38. 1,521,705 shares of the company were exchanged, compared to its average volume of 3,190,030. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a market cap of $358.13 billion, a P/E ratio of 23.96, a PEG ratio of 2.43 and a beta of 0.98. The company’s 50 day moving average price is $369.87 and its two-hundred day moving average price is $335.96. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HDGet Free Report) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the previous year, the firm earned $3.30 EPS. Home Depot’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that Home Depot will post 15.38 earnings per share for the current year.

Insider Activity at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Avondale Wealth Management boosted its holdings in shares of Home Depot by 13.3% during the 1st quarter. Avondale Wealth Management now owns 850 shares of the home improvement retailer’s stock worth $326,000 after buying an additional 100 shares during the period. Modus Advisors LLC boosted its holdings in shares of Home Depot by 2.4% during the 1st quarter. Modus Advisors LLC now owns 8,804 shares of the home improvement retailer’s stock worth $3,377,000 after buying an additional 208 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Home Depot during the 1st quarter worth $150,524,000. General Partner Inc. boosted its holdings in shares of Home Depot by 7.6% during the 1st quarter. General Partner Inc. now owns 9,979 shares of the home improvement retailer’s stock worth $3,828,000 after buying an additional 709 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot during the 1st quarter worth $38,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

(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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Analyst Recommendations for Home Depot (NYSE:HD)

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