DA Davidson raises Home Depot (NYSE: HD) price target to $ 420.00
Home deposit (NYSE: HD) saw its target price raised by DA Davidson research analysts from $ 395.00 to $ 420.00 in a research report released Thursday to customers and investors, Fly reports. DA Davidson’s target price indicates a potential rise of 2.20% from the current share price.
A number of other equity research analysts also weighed on the stock. Raymond James raised his price target for Home Depot shares from $ 400.00 to $ 420.00 and gave the company an “outperformance” rating in a report released on Friday, November 12. Citigroup raised its price target for the Home Depot stock from $ 418.00 to $ 445.00 and gave the stock a “buy” rating in a research note on Wednesday, November 17. Truist Securities raised its price target for Home Depot shares from $ 325.00 to $ 420.00 and assigned the stock a “hold” rating in a research note on Wednesday, November 17. Loop Capital raised its price target for Home Depot shares from $ 325.00 to $ 340.00 and assigned the stock a “conservation” rating in a research note on Wednesday, November 17. Finally, Piper Sandler raised her price target for Home Depot shares from $ 323.00 to $ 400.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 17. Seven investment analysts gave the stock a conservation rating and nineteen gave the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 413.13.
HD shares traded up $ 0.11 in the midday session Thursday, reaching $ 410.95. The stock had a trading volume of 32,973 shares, compared to its average volume of 3,821,019. Home Depot has a one-year low of $ 246.59 and a one-year high of $ 420.61 . The company’s fifty-day simple moving average is $ 391.64 and its two-hundred-day simple moving average is $ 349.99. The company has a market cap of $ 429.13 billion, a price / earnings ratio of 27.47, a PEG ratio of 2.10 and a beta of 0.98. The company has a debt to equity ratio of 35.47, a current ratio of 1.13 and a rapid ratio of 0.37.
Home Depot (NYSE: HD) last reported its quarterly results on Tuesday, November 16. The home improvement retailer reported earnings of $ 3.92 per share for the quarter, beating the Zacks’ consensus estimate of $ 3.41 by $ 0.51. Home Depot had a net margin of 10.79% and a return on equity of 786.90%. The company posted revenue of $ 36.82 billion for the quarter, compared to $ 34.87 billion according to analysts’ estimates. During the same period last year, the company earned $ 3.18 per share. The company’s revenue grew 9.8% year-over-year. On average, seller-side analysts forecast Home Depot to post earnings per share of 15.49 for the current year.
In other news, EVP Teresa Wynn Roseborough sold 18,878 shares of Home Depot in a transaction dated Wednesday, November 17. The shares were sold for an average price of $ 395.19, for a total value of $ 7,460,396.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, financial director Richard V. Mcphail sold 14,544 shares of the company in a transaction dated Wednesday, November 17. The stock was sold for an average price of $ 392.83, for a total trade of $ 5,713,319.52. Disclosure of this sale can be found here. 0.18% of the shares are held by insiders.
Hedge funds have recently increased or reduced their holdings in the stock. Core Alternative Capital purchased a new equity stake in Home Depot in the third quarter valued at approximately $ 29,000. Activest Wealth Management purchased a new equity stake in Home Depot in the second quarter valued at approximately $ 34,000. Strategic Asset Management LLC purchased a new equity stake in Home Depot in the third quarter valued at approximately $ 41,000. Bell Investment Advisors Inc purchased a new equity stake in Home Depot in the third quarter valued at approximately $ 84,000. Finally, Boit CF David purchased a new equity stake in Home Depot in the second quarter valued at approximately $ 104,000. 69.35% of the shares are currently held by hedge funds and other institutional investors.
About Home Depot
The Home Depot, Inc. engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decoration products. The company operates in the following geographic segments: United States, Canada and Mexico. It offers home renovation installation services and rental of tools and equipment.
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