Truist Financial Reiterates “Buy” Rating for Home Depot (NYSE:HD)

Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a report issued on Wednesday, Benzinga reports. They currently have a $417.00 price target on the home improvement retailer’s stock. Truist Financial’s price target points to a potential upside of 25.00% from the company’s previous close.

HD has been the subject of several other research reports. HSBC restated a “reduce” rating and issued a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. DA Davidson reissued a “neutral” rating and issued a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Telsey Advisory Group raised their price target on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a report on Monday, April 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Price Performance

HD stock traded down $1.23 on Wednesday, hitting $333.60. 2,555,509 shares of the company’s stock traded hands, compared to its average volume of 3,324,394. The stock has a market cap of $330.60 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.25 and a beta of 0.98. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock has a fifty day moving average of $369.14 and a 200-day moving average of $339.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the previous year, the firm posted $3.30 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts forecast that Home Depot will post 15.37 EPS for the current fiscal year.

Insider Activity

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently modified their holdings of the business. Congress Wealth Management LLC DE increased its position in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after purchasing an additional 3,162 shares during the period. Wolf Group Capital Advisors increased its holdings in Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after buying an additional 430 shares during the period. Alliance Wealth Management Group acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $253,000. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Home Depot by 8.0% during the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after acquiring an additional 200 shares during the period. Finally, Zullo Investment Group Inc. boosted its position in shares of Home Depot by 6.6% during the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.