Home Depot (NYSE:HD) Trading Up 0.4% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) traded up 0.4% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $465.00 to $467.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as high as $416.57 and last traded at $415.54. 303,342 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,895,219 shares. The stock had previously closed at $413.99.

Other equities research analysts have also recently issued reports about the company. Mizuho lifted their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $428.85.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC grew its stake in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth about $5,032,910,000. Fisher Asset Management LLC raised its position in Home Depot by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after purchasing an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Home Depot by 5.5% in the 4th quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock valued at $3,521,173,000 after buying an additional 468,203 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

The stock has a 50-day moving average price of $405.62 and a 200 day moving average price of $395.38. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $404.50 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

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.