Wells Fargo & Company Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Key Points

• Wells Fargo raised its Home Depot price target from $360 to $400 and maintained an “overweight” rating, implying 14.21% upside from the prior close.
• Analyst sentiment remains positive overall: Home Depot has a consensus “Moderate Buy” rating and an average price target of $373.14, based on 18 Buy, 13 Hold, and one Sell rating.
• Home Depot modestly exceeded quarterly expectations, reporting $3.43 in EPS versus the $3.41 consensus and $41.77 billion in revenue, up 4.8% year over year; institutional investors own 70.86% of the stock.

Home Depot (NYSE:HD - Get Free Report) had its price target boosted by Wells Fargo & Company from $360.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the home improvement retailer's stock. Wells Fargo & Company's target price suggests a potential upside of 14.21% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Oppenheimer cut their price target on Home Depot from $405.00 to $310.00 and set a "market perform" rating for the company in a research note on Monday, May 18th. Robert W. Baird lowered their price target on Home Depot from $430.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Mizuho dropped their price objective on Home Depot from $415.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $425.00 price objective on shares of Home Depot in a research report on Monday, July 20th. Finally, Jefferies Financial Group reduced their target price on shares of Home Depot from $361.00 to $360.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $373.14.

Home Depot Price Performance

NYSE HD opened at $350.23 on Tuesday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The firm has a market capitalization of $349.22 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a 50 day simple moving average of $336.54 and a 200-day simple moving average of $342.65. Home Depot has a 52-week low of $289.10 and a 52-week high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The company had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. During the same quarter in the prior year, the firm earned $3.56 EPS. The company's revenue was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts predict that Home Depot will post 15.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Depot

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Home Depot by 7.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer's stock worth $952,000 after purchasing an additional 173 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Home Depot by 14.1% in the second quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer's stock valued at $4,248,000 after buying an additional 1,433 shares during the period. Darwin Wealth Management LLC bought a new position in Home Depot during the second quarter valued at about $1,773,000. Finally, Financial Advisors Network Inc. lifted its position in shares of Home Depot by 11.3% in the 2nd quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer's stock worth $868,000 after acquiring an additional 241 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source