Gordon Haskett Boosts Home Depot (NYSE:HD) Price Target to $360.00

Home Depot (NYSE:HD) had its price target boosted by equities research analysts at Gordon Haskett from $350.00 to $360.00 in a report issued on Tuesday. Gordon Haskett’s price target points to a potential downside of 4.47% from the company’s previous close.

A number of other research firms have also recently commented on HD. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Truist Financial upped their price objective on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Nine 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 stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $424.60.

Home Depot Stock Down 0.7%

Shares of HD stock traded down $2.54 during mid-day trading on Tuesday, hitting $376.84. 6,282,223 shares of the stock traded hands, compared to its average volume of 3,437,186. 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 $374.59 billion, a P/E ratio of 25.60, a P/E/G 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. The stock’s fifty day moving average is $358.40 and its two-hundred day moving average is $387.85.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.63 earnings per share. Equities analysts predict that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently bought and sold shares of the business. Synergy Asset Management LLC purchased a new position in Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter worth about $29,000. Abound Financial LLC acquired a new stake in Home Depot in the 1st quarter worth about $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.