Robert W. Baird Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price dropped by equities research analysts at Robert W. Baird from $440.00 to $430.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 9.78% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a research report on Wednesday. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 0.4 %

Home Depot stock traded down $1.61 during trading hours on Wednesday, reaching $391.68. The stock had a trading volume of 2,218,681 shares, compared to its average volume of 3,223,450. The company has a fifty day simple moving average of $401.23 and a 200-day simple moving average of $398.48. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $389.08 billion, a PE ratio of 26.62, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Institutional Investors Weigh In On Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Navigoe LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP boosted its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds 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.