Home Depot (NYSE:HD) Price Target Raised to $475.00

Home Depot (NYSE:HD) had its target price hoisted by JPMorgan Chase & Co. from $450.00 to $475.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

A number of other equities analysts have also weighed in on the company. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $428.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $407.20 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The stock’s 50 day moving average is $405.62 and its 200-day moving average is $395.38. The firm has a market capitalization of $404.50 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 4.22 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Home Depot will post 15.12 EPS for the current fiscal year.

Insider Transactions at Home Depot

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HD. Norges Bank bought a new position in Home Depot in the 4th quarter worth about $5,032,910,000. International Assets Investment Management LLC boosted its stake in Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Raymond James Financial Inc. bought a new position in Home Depot in the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC boosted its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. 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.