Home Depot (NYSE:HD) Price Target Raised to $450.00 at Wells Fargo & Company

Home Depot (NYSE:HD - Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $440.00 to $450.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the home improvement retailer's stock. Wells Fargo & Company's target price suggests a potential upside of 9.90% from the stock's previous close.

Several other brokerages also recently issued reports on HD. Mizuho boosted their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded Home Depot from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Truist Financial lifted their price objective on Home Depot from $465.00 to $467.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their target price on Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $433.44.

Home Depot Trading Down 0.7 %

NYSE HD traded down $2.96 during mid-day trading on Thursday, hitting $409.47. The company's stock had a trading volume of 3,001,846 shares, compared to its average volume of 2,987,510. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The stock's fifty day simple moving average is $404.49 and its two-hundred day simple moving average is $396.14. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $406.75 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company's stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company's stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Home Depot in the fourth quarter valued at about $5,032,910,000. International Assets Investment Management LLC boosted its position in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer's stock worth $35,575,880,000 after buying an additional 8,762,735 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC boosted its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Finally, Northern Trust Corp lifted its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Institutional investors and hedge funds 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.