Home Depot (NYSE:HD) Price Target Lowered to $430.00 at Robert W. Baird

Home Depot (NYSE:HD) had its price target dropped by investment analysts at Robert W. Baird from $440.00 to $430.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s target price suggests a potential upside of 9.78% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Evercore ISI raised their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays lifted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

HD stock traded down $1.61 during mid-day trading on Wednesday, hitting $391.68. 2,218,681 shares of the company were exchanged, compared to its average volume of 3,223,450. The business has a 50 day simple moving average of $401.23 and a 200-day simple moving average of $398.48. Home Depot has a 1-year low of $323.77 and a 1-year high of $439.37. The stock has a market capitalization of $389.08 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’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. On average, equities analysts forecast that Home Depot will post 15.13 earnings per share for the current year.

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC bought a new position in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter worth approximately $32,000. Finally, Quarry LP grew its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. 70.86% of the stock is owned by 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.