Home Depot (NYSE:HD) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer analysts have raised their price target for Home Depot from $400.00 to $420.00, suggesting a potential upside of 2.58% from the stock's previous close.
• Home Depot's latest earnings report showed $4.68 earnings per share, slightly below analysts' expectations, with a revenue of $45.28 billion for the quarter.
• Several firms have issued favorable ratings and increased price targets for Home Depot, with the current consensus rating being a "Moderate Buy" and a target price of $436.40.

Home Depot (NYSE:HD - Get Free Report) had its price target hoisted by stock analysts at Oppenheimer from $400.00 to $420.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a "market perform" rating on the home improvement retailer's stock. Oppenheimer's price objective suggests a potential upside of 2.58% from the stock's previous close.

Several other analysts have also issued reports on the company. DA Davidson reiterated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Wells Fargo & Company increased their price objective on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Morgan Stanley increased their price objective on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Truist Financial raised their target price on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, TD Securities lowered Home Depot to a "buy" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $436.40.

Home Depot Trading Down 0.1%

Shares of NYSE HD opened at $409.45 on Thursday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock's 50 day moving average price is $397.87 and its two-hundred day moving average price is $374.09. The stock has a market capitalization of $407.56 billion, a P/E ratio of 27.77, a PEG ratio of 3.90 and a beta of 1.00. Home Depot has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 earnings per share. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company's stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently bought and sold shares of HD. Asset Planning Services Inc. LA ADV raised its stake in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot in the second quarter valued at $4,885,603,000. GAMMA Investing LLC raised its stake in shares of Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of Home Depot by 36,207.5% in the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer's stock valued at $3,694,552,000 after acquiring an additional 10,049,029 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Home Depot in the first quarter valued at $2,076,592,000. Hedge funds and other 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.

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