Home Depot (NYSE:HD) Price Target Lowered to $396.00 at Truist Financial

Home Depot (NYSE:HD) had its target price cut by research analysts at Truist Financial from $406.00 to $396.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price suggests a potential upside of 8.26% from the stock’s previous close.

Several other brokerages have also recently issued reports on HD. Citigroup decreased their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. UBS Group cut their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Tuesday, May 14th. Finally, DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $352.00 to $395.00 in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.40.

Home Depot Stock Down 0.6 %

NYSE HD traded down $2.37 during mid-day trading on Thursday, reaching $365.79. The stock had a trading volume of 351,408 shares, compared to its average volume of 3,384,414. Home Depot has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a fifty day moving average price of $344.95 and a 200 day moving average price of $353.46. The stock has a market cap of $362.72 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.51 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.82 earnings per share. On average, research analysts expect that Home Depot will post 15.3 earnings per share for the current year.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Moss Adams Wealth Advisors LLC increased its stake in shares of Home Depot by 13.5% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 899 shares of the home improvement retailer’s stock worth $312,000 after acquiring an additional 107 shares during the last quarter. Argus Investors Counsel Inc. increased its holdings in Home Depot by 0.8% during the 4th quarter. Argus Investors Counsel Inc. now owns 6,729 shares of the home improvement retailer’s stock worth $2,332,000 after purchasing an additional 56 shares in the last quarter. TriaGen Wealth Management LLC grew its holdings in shares of Home Depot by 24.3% during the fourth quarter. TriaGen Wealth Management LLC now owns 2,405 shares of the home improvement retailer’s stock worth $833,000 after buying an additional 470 shares in the last quarter. Bell Bank raised its position in Home Depot by 8.3% in the 4th quarter. Bell Bank now owns 3,589 shares of the home improvement retailer’s stock valued at $1,244,000 after buying an additional 275 shares during the last quarter. Finally, My Personal CFO LLC boosted its position in Home Depot by 2.4% during the 4th quarter. My Personal CFO LLC now owns 2,109 shares of the home improvement retailer’s stock worth $731,000 after acquiring an additional 49 shares during the last quarter. 70.86% of the stock is currently 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.