Home Depot (NYSE:HD) Price Target Raised to $340.00

Home Depot (NYSE:HD) had its price objective upped by Stifel Nicolaus from $320.00 to $340.00 in a research note published on Monday morning, Marketbeat.com reports. They currently have a hold rating on the home improvement retailer’s stock.

A number of other research analysts have also weighed in on HD. Bank of America began coverage on Home Depot in a report on Tuesday, May 5th. They issued a “buy” rating and a $374.00 price objective on the stock. Gordon Haskett upped their target price on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Royal Bank Of Canada upped their target price on Home Depot from $340.00 to $343.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group cut their price target on shares of Home Depot from $409.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Morgan Stanley reduced their price target on shares of Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $375.54.

Home Depot Price Performance

NYSE HD opened at $343.91 on Monday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.28. The stock’s fifty day moving average price is $340.56 and its 200 day moving average price is $340.77. Home Depot has a 1 year low of $289.10 and a 1 year high of $426.75. The company has a market cap of $342.92 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 4.06 and a beta of 0.95.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The company had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. During the same quarter last year, the business posted $4.68 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities research analysts forecast that Home Depot will post 14.99 earnings per share for the current year.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the stock. Provident Trust Co. boosted its position in Home Depot by 9.9% in the 2nd quarter. Provident Trust Co. now owns 831,190 shares of the home improvement retailer’s stock worth $293,144,000 after purchasing an additional 74,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Home Depot by 5.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 336,110 shares of the home improvement retailer’s stock valued at $118,539,000 after purchasing an additional 18,005 shares in the last quarter. Rational Advisors Inc. increased its holdings in shares of Home Depot by 13.9% during the 2nd quarter. Rational Advisors Inc. now owns 369 shares of the home improvement retailer’s stock valued at $130,000 after purchasing an additional 45 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Home Depot by 12.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 28,640 shares of the home improvement retailer’s stock valued at $10,101,000 after purchasing an additional 3,090 shares during the period. Finally, Spinnaker Trust lifted its stake in shares of Home Depot by 0.7% in the 2nd quarter. Spinnaker Trust now owns 43,155 shares of the home improvement retailer’s stock valued at $15,220,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Key Headlines Impacting Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Q2 beat expectations: Adjusted EPS was $4.92 versus the $4.73 consensus, while revenue rose 5.7% year over year to $47.86 billion, exceeding estimates of roughly $47.2 billion. Home Depot reaffirms guidance amid frozen housing market conditions
• Positive Sentiment: Comparable sales improved: Total comparable sales increased 1.7%, the best performance since 2022, with U.S. comps up 1.3%. Smaller repair, maintenance and DIY projects helped offset weakness in large renovations. Home Depot beats quarterly sales estimates on steady repair demand
• Positive Sentiment: Pro and digital momentum: Professional-customer demand, project activity and record online sales supported results. Nationwide Express Delivery, using more than 2,000 stores as local fulfillment hubs, could improve convenience, order frequency and customer retention. The Home Depot expands nationwide express delivery
• Positive Sentiment: Analyst support: Guggenheim, Argus and DA Davidson reaffirmed Buy ratings, with price targets ranging from $377 to $425, suggesting additional upside if the housing market recovers.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.