August 18, 2022

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Home Depot (NYSE:HD) PT Lowered to $314.00

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Home Depot (NYSE:HDGet Rating) had its price target lowered by equities research analysts at Piper Sandler from $342.00 to $314.00 in a report released on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the home improvement retailer’s stock. Piper Sandler’s target price would indicate a potential upside of 0.93% from the stock’s previous close. Piper Sandler also issued estimates for Home Depot’s Q3 2023 earnings at $3.83 EPS, Q4 2023 earnings at $3.05 EPS, Q3 2024 earnings at $4.10 EPS, Q4 2024 earnings at $3.27 EPS and FY2024 earnings at $16.51 EPS.

HD has been the subject of several other reports. OTR Global upgraded shares of Home Depot from a “mixed” rating to a “positive” rating in a research note on Tuesday, February 15th. The Goldman Sachs Group cut their price objective on shares of Home Depot from $413.00 to $402.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Friday, February 25th. Telsey Advisory Group cut their price objective on shares of Home Depot from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. Finally, Gordon Haskett cut their price objective on shares of Home Depot from $385.00 to $355.00 and set a “buy” rating for the company in a research report on Monday, March 28th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $387.08.

Shares of NYSE:HD opened at $311.11 on Thursday. Home Depot has a 52-week low of $293.59 and a 52-week high of $420.61. The company has a market capitalization of $321.49 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a 50-day simple moving average of $329.46 and a 200 day simple moving average of $360.51. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.24 and a current ratio of 1.01.

Home Depot (NYSE:HDGet Rating) last issued its earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.01. Home Depot had a net margin of 10.87% and a return on equity of 2,082.76%. The business had revenue of $35.72 billion during the quarter, compared to the consensus estimate of $34.85 billion. During the same period last year, the business posted $2.74 EPS. Home Depot’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Home Depot will post 16.04 earnings per share for the current year.

In related news, EVP Hector A. Padilla sold 504 shares of Home Depot stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Israel Discount Bank of New York grew its stake in shares of Home Depot by 33.0% during the first quarter. Israel Discount Bank of New York now owns 2,335 shares of the home improvement retailer’s stock worth $699,000 after buying an additional 580 shares during the last quarter. Blue Zone Wealth Advisors LLC grew its stake in shares of Home Depot by 11.5% during the first quarter. Blue Zone Wealth Advisors LLC now owns 909 shares of the home improvement retailer’s stock worth $272,000 after buying an additional 94 shares during the last quarter. First National Bank of South Miami grew its stake in shares of Home Depot by 3.6% during the first quarter. First National Bank of South Miami now owns 7,395 shares of the home improvement retailer’s stock worth $2,213,000 after buying an additional 257 shares during the last quarter. Norway Savings Bank grew its stake in shares of Home Depot by 22.6% during the first quarter. Norway Savings Bank now owns 4,201 shares of the home improvement retailer’s stock worth $1,258,000 after buying an additional 775 shares during the last quarter. Finally, Barber Financial Group Inc. grew its stake in shares of Home Depot by 119.1% during the first quarter. Barber Financial Group Inc. now owns 1,779 shares of the home improvement retailer’s stock worth $533,000 after buying an additional 967 shares during the last quarter. 69.52% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Company Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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