Truist Financial Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD - Get Free Report) had its price objective hoisted by stock analysts at Truist Financial from $391.00 to $393.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the home improvement retailer's stock. Truist Financial's target price would suggest a potential upside of 9.44% from the company's previous close.

Several other research firms have also commented on HD. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and lifted their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Home Depot from $450.00 to $410.00 and set an "overweight" rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $470.00 to $410.00 and set an "overweight" rating for the company in a research note on Tuesday. Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Ten investment 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 company's stock. According to MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $430.12.

Home Depot Price Performance

HD stock traded down $2.63 during trading on Tuesday, hitting $359.10. 940,300 shares of the company's stock traded hands, compared to its average volume of 3,444,151. The business has a fifty day simple moving average of $360.40 and a 200 day simple moving average of $389.79. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $356.96 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business posted $2.82 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. As a group, research analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently made changes to their positions in HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $28,000. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter worth $29,000. Abound Financial LLC acquired a new stake in Home Depot during the first quarter valued at $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter valued at $32,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.

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