Royal Bank Of Canada Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price lowered by equities researchers at Royal Bank Of Canada from $401.00 to $376.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 13.25% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Oppenheimer lifted their price objective on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. The Goldman Sachs Group dropped their price target on shares of Home Depot from $444.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a report on Wednesday. Telsey Advisory Group decreased their price objective on shares of Home Depot from $455.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $415.65.

Home Depot Stock Down 1.3%

HD stock traded down $4.48 during trading on Wednesday, reaching $332.00. The stock had a trading volume of 3,095,545 shares, compared to its average volume of 3,531,248. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The firm has a fifty day moving average price of $390.33 and a 200 day moving average price of $381.80. The company has a market capitalization of $330.47 billion, a P/E ratio of 22.55, a PEG ratio of 3.59 and a beta of 1.00. Home Depot has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. During the same quarter in the prior year, the business earned $3.78 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 44,466 shares of company stock worth $17,859,432. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mainstay Capital Management LLC ADV bought a new position in shares of Home Depot during the 2nd quarter valued at about $263,000. WealthPlan Investment Management LLC acquired a new stake in shares of Home Depot in the second quarter worth $1,149,000. Tower View Wealth Management LLC increased its holdings in shares of Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd acquired a new position in Home Depot in the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. raised its holdings in shares of Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after acquiring an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.