Truist Financial Boosts Home Depot (NYSE:HD) Price Target to $465.00

Home Depot (NYSE:HD) had its target price increased by research analysts at Truist Financial from $459.00 to $465.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s target price would indicate a potential upside of 13.69% from the company’s current price.

A number of other research analysts have also weighed in on HD. DA Davidson raised their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Bank of America raised their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 1.5 %

NYSE HD traded up $5.93 during trading hours on Wednesday, hitting $409.01. 1,179,020 shares of the company’s stock were exchanged, compared to its average volume of 3,373,707. The stock has a 50-day simple moving average of $396.76 and a 200 day simple moving average of $365.25. Home Depot has a 1-year low of $300.14 and a 1-year high of $421.56. The firm has a market cap of $406.27 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.79 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Home Depot will post 14.99 EPS for the current fiscal year.

Institutional Trading of Home Depot

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in Home Depot during the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.