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

Home Depot (NYSE:HD) had its target price reduced by analysts at Piper Sandler from $435.00 to $418.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target would indicate a potential upside of 15.82% from the company’s previous close.

Several other analysts also recently commented on the stock. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Down 0.8 %

NYSE:HD opened at $360.90 on Monday. The firm has a market capitalization of $358.50 billion, a P/E ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. Home Depot has a one year low of $323.77 and a one year high of $439.37. The company’s 50-day simple moving average is $392.82 and its 200 day simple moving average is $399.16.

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

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. grew its position in shares of Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares in the last quarter. Insight Inv LLC lifted its holdings in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares in the last quarter. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC boosted its stake in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

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.