Home Depot (NYSE:HD) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Home Depot (NYSE:HD) had its price objective boosted by analysts at Sanford C. Bernstein from $403.00 to $406.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the home improvement retailer’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 9.52% from the stock’s previous close.

Several other brokerages also recently weighed in on HD. Wolfe Research initiated coverage on Home Depot in a research note on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price for the company. Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $434.82.

Home Depot Stock Performance

Home Depot stock opened at $370.71 on Friday. The firm has a market capitalization of $369.00 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Home Depot has a one year low of $326.31 and a one year high of $439.37. The stock’s 50 day moving average price is $397.28 and its 200 day moving average price is $381.46. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the business earned $4.60 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Insider Buying and Selling at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Vanguard Group Inc. boosted its stake in Home Depot by 0.3% during the 3rd 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 period. State Street Corp raised its holdings in shares of Home Depot by 0.7% during the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after buying an additional 300,352 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after buying an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $5,341,724,000 after buying an additional 153,582 shares in the last quarter. Finally, Norges Bank acquired a new stake in Home Depot in the 2nd quarter valued at approximately $4,885,603,000. 70.86% of the stock is currently owned by institutional investors.

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.