Wells Fargo & Company Cuts Home Depot (NYSE:HD) Price Target to $420.00

Home Depot (NYSE:HD) had its price target decreased by equities research analysts at Wells Fargo & Company from $445.00 to $420.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.85% from the stock’s previous close.

A number of other analysts have also issued reports on HD. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $430.32.

Home Depot Price Performance

Shares of NYSE HD opened at $362.55 on Thursday. 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 has a fifty day moving average of $358.23 and a 200 day moving average of $388.83. The firm has a market cap of $360.39 billion, a PE ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a one year low of $323.77 and a one year high of $439.37.

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

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 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 during the fourth quarter worth $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter valued at $32,000. Finally, Abound Financial LLC acquired a new position in Home Depot during the 1st quarter worth $31,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.