Home Depot (NYSE:HD) Trading Up 0% on Analyst Upgrade

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0% on Friday 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 $418.00 and last traded at $412.53. 600,181 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,875,594 shares. The stock had previously closed at $412.43.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen boosted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays boosted their price target 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. DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their price target on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $431.00.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently made changes to their positions in the stock. Alta Advisers Ltd boosted its holdings in Home Depot by 23.0% in the fourth quarter. Alta Advisers Ltd now owns 3,321 shares of the home improvement retailer’s stock worth $1,292,000 after purchasing an additional 621 shares during the period. Steel Grove Capital Advisors LLC raised its holdings in Home Depot by 15.1% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 1,970 shares of the home improvement retailer’s stock worth $766,000 after buying an additional 259 shares during the period. Harvest Investment Services LLC raised its holdings in Home Depot by 84.0% during the 4th quarter. Harvest Investment Services LLC now owns 1,038 shares of the home improvement retailer’s stock worth $404,000 after buying an additional 474 shares during the period. Nippon Life Global Investors Americas Inc. raised its holdings in Home Depot by 8.5% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 25,140 shares of the home improvement retailer’s stock worth $9,779,000 after buying an additional 1,970 shares during the period. Finally, Fayez Sarofim & Co raised its holdings in Home Depot by 8.2% during the 4th quarter. Fayez Sarofim & Co now owns 631,481 shares of the home improvement retailer’s stock worth $245,640,000 after buying an additional 47,669 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 0.1 %

The company has a fifty day simple moving average of $404.93 and a 200-day simple moving average of $395.58. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $409.11 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.81 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share 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.