Truist Financial Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD - Get Free Report) had its price target boosted by equities researchers at Truist Financial from $465.00 to $467.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the home improvement retailer's stock. Truist Financial's price objective indicates a potential upside of 14.05% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Stifel Nicolaus upped their price target on Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, November 11th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Telsey Advisory Group upgraded Home Depot from a "market perform" rating to an "outperform" rating and upped their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy 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 $431.00.

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Home Depot Stock Performance

Home Depot stock traded down $2.96 during mid-day trading on Tuesday, reaching $409.47. 2,613,572 shares of the company traded hands, compared to its average volume of 2,948,093. The firm's fifty day moving average is $404.93 and its two-hundred day moving average is $395.58. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. 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 company has a market capitalization of $406.76 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.81 EPS. On average, equities research analysts expect that Home Depot will post 15.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company's stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the fourth quarter worth about $32,000. Quarry LP boosted its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Home Depot during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

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.