Home Depot (NYSE:HD) Stock Price Expected to Rise, Evercore ISI Analyst Says

Home Depot (NYSE:HD) had its price objective hoisted by stock analysts at Evercore ISI from $420.00 to $430.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the home improvement retailer’s stock. Evercore ISI’s target price would suggest a potential upside of 4.75% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday. Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $425.78.

Home Depot Stock Performance

Shares of NYSE HD traded up $7.43 during mid-day trading on Wednesday, hitting $410.51. The company had a trading volume of 875,550 shares, compared to its average volume of 3,372,328. The firm’s 50 day simple moving average is $396.76 and its two-hundred day simple moving average is $365.25. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $407.76 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.83 and a beta of 1.01. Home Depot has a 12 month low of $300.14 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the firm posted $3.81 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that Home Depot will post 14.99 earnings per share for the current year.

Institutional Trading of Home Depot

Institutional investors have recently bought and sold shares of the stock. Texas Capital Bank Wealth Management Services Inc raised its position in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares during the period. Pegasus Asset Management Inc. grew its stake in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares in the last quarter. Swedbank AB grew its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. LGT Group Foundation grew its stake in shares of Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after buying an additional 147,482 shares during the period. Finally, CX Institutional lifted its holdings in shares of Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after acquiring an additional 22,668 shares during the last quarter. 70.86% of the stock is currently 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.