Royal Bank of Canada Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price lowered by research analysts at Royal Bank of Canada from $431.00 to $424.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.59% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the stock from $356.00 to $410.00 in a research report on Wednesday. Barclays upped their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Down 0.0 %

HD opened at $390.44 on Wednesday. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a fifty day moving average of $401.27 and a 200-day moving average of $398.37. The stock has a market cap of $387.85 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 earnings per share. On average, sell-side analysts predict that Home Depot will post 15.13 EPS for the current year.

Institutional Investors Weigh In On Home Depot

Several large investors have recently modified their holdings of HD. Norges Bank bought a new position in Home Depot in the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC raised its position in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in Home Depot during the fourth quarter valued at about $471,189,000. 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.