Home Depot (NYSE:HD) Price Target Increased to $455.00 by Analysts at Piper Sandler

Home Depot (NYSE:HD) had its price target raised by equities researchers at Piper Sandler from $387.00 to $455.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target indicates a potential upside of 13.46% from the stock’s previous close.

A number of other research analysts have also recently commented on HD. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Loop Capital boosted their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. DA Davidson boosted their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $394.08.

Home Depot Trading Up 0.4 %

NYSE HD traded up $1.48 during trading hours on Monday, hitting $401.01. 205,744 shares of the company were exchanged, compared to its average volume of 3,371,519. The stock has a market cap of $397.65 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The stock has a 50-day moving average price of $368.10 and a 200 day moving average price of $354.90. Home Depot has a 52 week low of $274.26 and a 52 week high of $403.54. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. Analysts forecast that Home Depot will post 15.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently made changes to their positions in HD. Wulff Hansen & CO. increased its position in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in shares of Home Depot in the 1st quarter valued at $513,016,000. Capital Research Global Investors grew its position in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Price T Rowe Associates Inc. MD grew its position in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Swedbank AB acquired a new stake in Home Depot during the 1st quarter worth about $301,364,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.