Home Depot (NYSE:HD) Price Target Cut to $410.00 by Analysts at JPMorgan Chase & Co.

Home Depot (NYSE:HD - Get Free Report) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $470.00 to $410.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the home improvement retailer's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.73% from the stock's current price.

Several other analysts also recently commented on the company. Wedbush reiterated an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial dropped their price objective on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley dropped their target price on shares of Home Depot from $450.00 to $410.00 and set an "overweight" rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average price target of $430.04.

Home Depot Trading Down 0.3 %

Shares of Home Depot stock traded down $1.23 during trading on Tuesday, reaching $360.50. The company's stock had a trading volume of 464,917 shares, compared to its average volume of 3,442,212. 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 company has a market cap of $358.35 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The firm's 50-day moving average is $360.40 and its two-hundred day moving average is $389.79.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business's revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its position in shares of Home Depot by 12.8% during the 1st quarter. Proficio Capital Partners LLC now owns 11,895 shares of the home improvement retailer's stock valued at $4,354,000 after buying an additional 1,350 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in Home Depot by 5.3% in the 1st quarter. KLP Kapitalforvaltning AS now owns 383,042 shares of the home improvement retailer's stock worth $140,381,000 after purchasing an additional 19,200 shares during the period. Summit Asset Management LLC increased its stake in shares of Home Depot by 16.8% in the first quarter. Summit Asset Management LLC now owns 6,858 shares of the home improvement retailer's stock worth $2,513,000 after purchasing an additional 987 shares in the last quarter. Financial Partners Group Inc lifted its position in shares of Home Depot by 3.6% in the first quarter. Financial Partners Group Inc now owns 974 shares of the home improvement retailer's stock valued at $357,000 after acquiring an additional 34 shares in the last quarter. Finally, United Bank lifted its holdings in Home Depot by 14.9% in the 1st quarter. United Bank now owns 5,023 shares of the home improvement retailer's stock worth $1,841,000 after purchasing an additional 653 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.