Citigroup Lowers Home Depot (NYSE:HD) Price Target to $395.00

Home Depot (NYSE:HD - Get Free Report) had its target price cut by equities researchers at Citigroup from $415.00 to $395.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the home improvement retailer's stock. Citigroup's price objective would indicate a potential upside of 15.93% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Truist Financial restated a "buy" rating and set a $417.00 price target on shares of Home Depot in a report on Wednesday, April 17th. Wells Fargo & Company upped their price objective on shares of Home Depot from $385.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. StockNews.com cut shares of Home Depot from a "buy" rating to a "hold" rating in a report on Friday. Royal Bank of Canada upped their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a "sector perform" rating in a report on Monday, February 26th. Finally, Evercore ISI decreased their price objective on shares of Home Depot from $420.00 to $415.00 and set an "outperform" rating for the company in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $375.19.

Home Depot Price Performance

NYSE:HD traded down $1.58 during midday trading on Tuesday, hitting $340.71. 2,930,173 shares of the stock were exchanged, compared to its average volume of 3,345,272. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a market capitalization of $337.65 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.28 and a beta of 1.01. The business has a 50-day moving average price of $361.16 and a two-hundred day moving average price of $343.16. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analysts' expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 earnings per share. Sell-side analysts predict that Home Depot will post 15.37 EPS for the current year.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company's stock, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company's stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its position in Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer's stock worth $680,000 after purchasing an additional 28 shares in the last quarter. Optas LLC boosted its position in Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer's stock worth $607,000 after purchasing an additional 29 shares in the last quarter. STAR Financial Bank boosted its position in Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer's stock worth $1,367,000 after purchasing an additional 29 shares in the last quarter. Harvest Investment Advisors LLC boosted its position in Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer's stock worth $1,153,000 after purchasing an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its position in Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer's stock worth $3,778,000 after purchasing an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

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.