Piper Sandler Cuts Home Depot (NYSE:HD) Price Target to $418.00

Home Depot (NYSE:HD) had its price objective reduced by investment analysts at Piper Sandler from $435.00 to $418.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target suggests a potential upside of 18.71% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

Shares of HD opened at $352.12 on Monday. The business’s fifty day moving average is $393.97 and its 200 day moving average is $399.14. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37. 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 stock has a market cap of $349.78 billion, a P/E ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $2.82 earnings per share. Sell-side analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the company. SYM FINANCIAL Corp grew its holdings in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the period. Principal Financial Group Inc. raised its stake in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after acquiring an additional 141,915 shares during the period. United Bank boosted its position in shares of Home Depot by 4.2% in the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares during the period. Algert Global LLC purchased a new stake in shares of Home Depot in the third quarter worth $649,000. Finally, Centaurus Financial Inc. raised its position in shares of Home Depot by 0.8% during the 3rd quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer’s stock valued at $1,805,000 after purchasing an additional 35 shares during the period. Institutional investors own 70.86% of the company’s stock.

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.