Royal Bank Of Canada Cuts Home Depot (NYSE:HD) Price Target to $376.00

Home Depot (NYSE:HD) had its price objective dropped by equities researchers at Royal Bank Of Canada from $401.00 to $376.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 13.25% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wolfe Research assumed coverage on Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price for the company. DA Davidson restated a “buy” rating and set a $475.00 target price on shares of Home Depot in a research report on Tuesday. Truist Financial set a $379.00 price target on shares of Home Depot in a research report on Tuesday. Robert W. Baird lowered their price objective on shares of Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on shares of Home Depot from $444.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $415.65.

Home Depot Stock Down 1.3%

Shares of NYSE HD traded down $4.48 during midday trading on Wednesday, hitting $332.00. The company’s stock had a trading volume of 3,095,545 shares, compared to its average volume of 3,531,248. Home Depot has a 1 year low of $326.31 and a 1 year high of $439.37. The business’s fifty day simple moving average is $390.33 and its two-hundred day simple moving average is $381.80. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm has a market capitalization of $330.47 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts predict that Home Depot will post 15.13 EPS for the current year.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 44,466 shares of company stock worth $17,859,432 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Home Depot by 0.3% during the third quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after buying an additional 331,217 shares during the period. State Street Corp lifted its holdings in shares of Home Depot by 0.7% during the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after acquiring an additional 300,352 shares in the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after purchasing an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Home Depot by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after purchasing an additional 153,582 shares during the period. Finally, Norges Bank acquired a new stake in Home Depot in the 2nd quarter valued at $4,885,603,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

About Home Depot

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.