Piper Sandler Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD - Get Free Report) had its price target dropped by equities research analysts at Piper Sandler from $435.00 to $418.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the home improvement retailer's stock. Piper Sandler's price target would suggest a potential upside of 15.17% from the company's previous close.

HD has been the topic of a number of other reports. Wedbush reissued an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Truist Financial dropped their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $435.85.

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Home Depot Stock Up 0.2 %

NYSE HD traded up $0.83 during trading hours on Monday, hitting $362.96. The company's stock had a trading volume of 3,035,092 shares, compared to its average volume of 3,220,848. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company's 50-day simple moving average is $391.01 and its two-hundred day simple moving average is $398.65. The company has a market capitalization of $360.55 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Home Depot will post 15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently bought and sold shares of the stock. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $32,000. Finally, Quarry LP grew its position in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is 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.