Jefferies Financial Group Cuts Home Depot (NYSE:HD) Price Target to $456.00

Home Depot (NYSE:HD) had its price objective dropped by research analysts at Jefferies Financial Group from $461.00 to $456.00 in a research report issued to clients and investors on Tuesday. Jefferies Financial Group’s price objective suggests a potential upside of 21.01% from the stock’s previous close.

A number of other research firms also recently commented on HD. Wells Fargo & Company decreased their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $424.60.

Home Depot Stock Down 0.7%

Shares of Home Depot stock traded down $2.54 during trading on Tuesday, reaching $376.84. The company had a trading volume of 6,282,223 shares, compared to its average volume of 3,437,186. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm’s fifty day moving average is $358.40 and its 200-day moving average is $387.85. The company has a market cap of $374.59 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for 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%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.63 EPS. On average, analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. POM Investment Strategies LLC grew its holdings in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its stake in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares in the last quarter. Marino Stram & Associates LLC raised its holdings in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Live Oak Private Wealth LLC raised its holdings in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after buying an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC lifted its stake in Home Depot by 4.0% during the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after buying an additional 25 shares in the last quarter. 70.86% of the stock is owned by 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.