Piper Sandler Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price objective decreased by research analysts at Piper Sandler from $455.00 to $435.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price objective would indicate a potential upside of 11.41% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

Shares of HD opened at $390.44 on Wednesday. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market capitalization of $387.85 billion, a price-to-earnings ratio of 26.52, 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. The stock’s 50-day simple moving average is $401.27 and its 200 day simple moving average is $398.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 earnings per share. Research analysts forecast that Home Depot will post 15.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently made changes to their positions in HD. K.J. Harrison & Partners Inc lifted its position in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Pensionfund Sabic grew its position in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB grew its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Wedmont Private Capital raised its stake in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $1,793,000. 70.86% of the stock is currently owned by 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.