Home Depot (NYSE:HD) Given New $459.00 Price Target at Truist Financial

Home Depot (NYSE:HD) had its price objective raised by analysts at Truist Financial from $455.00 to $459.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Truist Financial’s price objective suggests a potential upside of 13.08% from the company’s current price.

HD has been the topic of a number of other reports. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $420.04.

Home Depot Trading Up 1.6 %

Shares of Home Depot stock traded up $6.46 during mid-day trading on Thursday, hitting $405.90. 3,448,699 shares of the stock were exchanged, compared to its average volume of 3,078,940. Home Depot has a twelve month low of $286.79 and a twelve month high of $421.56. The company has a 50-day simple moving average of $395.19 and a 200 day simple moving average of $363.84. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market capitalization of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 net margin of 9.71% and a return on equity of 733.61%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 earnings per share. Research analysts forecast that Home Depot will post 15.01 EPS for the current year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in HD. Abacus Wealth Partners LLC raised its holdings in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its holdings in Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after buying an additional 26 shares in the last quarter. Ruedi Wealth Management Inc. lifted its holdings in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares during the last quarter. Finally, Acorn Creek Capital LLC increased its position in shares of Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the last quarter. 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.