Royal Bank of Canada Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price dropped by research analysts at Royal Bank of Canada from $431.00 to $424.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 7.16% from the stock’s previous close.

HD has been the topic of several other reports. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $437.56.

Home Depot Stock Performance

Shares of NYSE:HD traded up $2.38 on Wednesday, hitting $395.67. The company’s stock had a trading volume of 1,810,813 shares, compared to its average volume of 3,212,022. The stock’s 50-day moving average is $401.23 and its two-hundred day moving average is $398.48. The company has a market capitalization of $393.05 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37.

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

Institutional Trading of Home Depot

Several institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter worth about $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP boosted its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.