Home Depot (NYSE:HD) Trading Up 1.3% on Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s stock price traded up 1.3% on Thursday after Wells Fargo & Company raised their price target on the stock from $440.00 to $450.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as high as $411.51 and last traded at $412.36. 572,308 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,870,591 shares. The stock had previously closed at $407.14.

Other equities research analysts have also issued research reports about the stock. Truist Financial upped their target price on shares of Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Barclays lifted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $429.59.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of the business. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at $32,000. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC grew its holdings in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 0.9 %

The stock has a market capitalization of $408.01 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm’s fifty day simple moving average is $405.21 and its 200 day simple moving average is $395.46.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.81 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

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.