Home Depot (NYSE:HD) Price Target Cut to $435.00 by Analysts at Piper Sandler

Home Depot (NYSE:HD) had its price target cut by investment analysts at Piper Sandler from $455.00 to $435.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target suggests a potential upside of 9.97% from the stock’s current price.

HD has been the topic of a number of other reports. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.76.

Home Depot Price Performance

Shares of NYSE HD traded up $2.27 on Wednesday, hitting $395.56. The company’s stock had a trading volume of 1,968,205 shares, compared to its average volume of 3,217,938. The stock has a 50 day moving average of $401.23 and a 200-day moving average of $398.48. The company has a market capitalization of $392.93 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC bought a new stake in Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $32,000. Finally, Quarry LP grew its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Company Profile

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.