Home Depot (NYSE:HD) Price Target Cut to $400.00 by Analysts at HSBC

Home Depot (NYSE:HD) had its price target reduced by investment analysts at HSBC from $445.00 to $400.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “hold” rating on the home improvement retailer’s stock. HSBC’s price objective suggests a potential upside of 19.96% from the company’s current price.

A number of other analysts have also issued reports on the company. Robert W. Baird cut their target price on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their price objective on Home Depot from $435.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Home Depot in a research note on Thursday, November 13th. Morgan Stanley lowered their target price on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, DA Davidson reiterated a “buy” rating and set a $475.00 price target on shares of Home Depot in a research note on Tuesday. Eighteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $415.40.

Home Depot Stock Down 0.9%

Shares of HD opened at $333.44 on Wednesday. The company’s 50-day moving average price is $390.33 and its 200 day moving average price is $381.80. Home Depot has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The firm has a market cap of $331.90 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

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

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,466 shares of company stock valued at $17,859,432 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Institutional Trading of Home Depot

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

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.