Weiss Ratings Reiterates Buy (B) Rating for Home Depot (NYSE:HD)

Key Points

• Weiss Ratings has reiterated a "buy (B)" rating for Home Depot, signaling confidence in the stock's performance despite recent changes in price targets from other analysts.
• Home Depot's stock opened at $383.84, with a current consensus target price of $435.42, reflecting positive growth potential.
• Recent insider sales have occurred, including the CEO selling nearly 33,000 shares, indicating a shift in executive holdings despite ongoing institutional investor interest.

Home Depot (NYSE:HD - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Truist Financial increased their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. DA Davidson reissued a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Morgan Stanley increased their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $435.42.

Home Depot Price Performance

Shares of HD opened at $383.84 on Wednesday. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm's 50 day moving average price is $403.30 and its 200 day moving average price is $376.89. The company has a market cap of $382.07 billion, a P/E ratio of 26.08, a PEG ratio of 3.67 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

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

Insider Activity

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Institutional Trading of Home Depot

Several hedge funds and other institutional investors have recently made changes to their positions in HD. Legend Financial Advisors Inc. purchased a new position in Home Depot during the 2nd quarter valued at about $28,000. Sagard Holdings Management Inc. purchased a new position in Home Depot during the 2nd quarter valued at about $29,000. Abound Financial LLC purchased a new position in Home Depot during the 1st quarter valued at about $31,000. LFA Lugano Financial Advisors SA purchased a new position in Home Depot during the 2nd quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 70.86% of the company's stock.

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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