July 18, 2024

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Evercore ISI Trims Home Depot (NYSE:HD) Target Price to $360.00


Home Depot (NYSE:HDGet Rating) had its target price lowered by stock analysts at Evercore ISI to $360.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. Evercore ISI’s target price would suggest a potential upside of 20.06% from the stock’s current price.

HD has been the topic of several other research reports. UBS Group dropped their target price on Home Depot from $470.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Robert W. Baird lowered their price objective on Home Depot from $425.00 to $380.00 in a research report on Tuesday, February 22nd. Wedbush lowered their price objective on Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a research report on Friday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Home Depot from $406.00 to $365.00 in a research report on Wednesday, February 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $373.95.

NYSE HD traded up $2.33 during midday trading on Thursday, hitting $299.86. 4,156,307 shares of the company traded hands, compared to its average volume of 4,865,408. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.11 and a quick ratio of 0.28. The company has a market cap of $308.18 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. The company’s 50-day simple moving average is $300.89 and its 200-day simple moving average is $343.52. Home Depot has a 52 week low of $279.59 and a 52 week high of $420.61.

Home Depot (NYSE:HDGet Rating) last announced its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.42. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $36.78 billion. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.86 EPS. On average, research analysts predict that Home Depot will post 16.47 earnings per share for the current year.

In related news, EVP Ann Marie Campbell sold 11,293 shares of Home Depot stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares in the company, valued at approximately $14,739,935.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Becker Caryn Seidman acquired 1,500 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average price of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the acquisition, the director now owns 1,500 shares in the company, valued at approximately $431,595. The disclosure for this purchase can be found here. Insiders have sold a total of 11,933 shares of company stock worth $3,448,197 over the last 90 days. Insiders own 0.17% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $4,325,629,000. Renaissance Technologies LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at approximately $563,524,000. Parnassus Investments LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at approximately $542,084,000. Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 14.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $440,559,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

About Home Depot (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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