Wells Fargo & Company Boosts Home Depot (NYSE:HD) Price Target to $450.00

Home Depot (NYSE:HD) had its price objective raised by Wells Fargo & Company from $440.00 to $450.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the home improvement retailer’s stock.

HD has been the topic of several other reports. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Truist Financial lifted their price objective on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays lifted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $431.00.

Home Depot Stock Performance

Shares of NYSE:HD opened at $412.64 on Thursday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. Home Depot has a one year low of $323.77 and a one year high of $439.37. The business’s 50-day simple moving average is $405.21 and its 200 day simple moving average is $395.46. The company has a market cap of $409.90 billion, a P/E ratio of 28.03, a PEG ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the business earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Home Depot will post 15.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. AMF Tjanstepension AB raised its stake in shares of Home Depot by 10.8% in the 3rd quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock worth $69,340,000 after buying an additional 16,650 shares in the last quarter. SYM FINANCIAL Corp raised its stake in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after buying an additional 289 shares in the last quarter. Wealth Group Ltd. bought a new stake in shares of Home Depot in the 3rd quarter worth $217,000. Creative Planning raised its stake in shares of Home Depot by 7.0% in the 3rd quarter. Creative Planning now owns 513,327 shares of the home improvement retailer’s stock worth $199,295,000 after buying an additional 33,703 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares in the last quarter. 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.