Wedbush Reiterates Outperform Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Wedbush in a report issued on Friday, Benzinga reports. They currently have a $410.00 price target on the home improvement retailer's stock. Wedbush's price target indicates a potential upside of 18.35% from the company's current price.

Several other research analysts also recently commented on HD. Truist Financial reissued a "buy" rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Zelman & Associates raised shares of Home Depot from a "neutral" rating to an "outperform" rating in a report on Tuesday, April 2nd. TD Cowen boosted their target price on Home Depot from $415.00 to $440.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. Citigroup dropped their target price on shares of Home Depot from $415.00 to $395.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $375.19.

Home Depot Trading Down 0.3 %

Shares of NYSE:HD traded down $1.00 during midday trading on Friday, hitting $346.44. 3,413,675 shares of the stock were exchanged, compared to its average volume of 3,604,230. The stock has a market capitalization of $343.33 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 2.28 and a beta of 1.01. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The business's 50-day moving average price is $359.03 and its 200 day moving average price is $343.54. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

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

Insider Buying and Selling at Home Depot

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 stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company's stock, valued at approximately $39,712,878.53. The transaction 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 the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company's stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer's stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Home Depot by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer's stock valued at $4,540,197,000 after acquiring an additional 347,614 shares during the period. Norges Bank bought a new position in Home Depot in the 4th quarter worth about $4,311,070,000. Northern Trust Corp grew its stake in Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer's stock valued at $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Home Depot by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer's stock worth $3,050,363,000 after purchasing an additional 195,670 shares during the period. 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.