Evercore ISI Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price upped by research analysts at Evercore ISI from $420.00 to $430.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the home improvement retailer’s stock. Evercore ISI’s price target would indicate a potential upside of 6.02% from the company’s previous close.

A number of other brokerages have also issued reports on HD. Guggenheim boosted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Truist Financial upped their price target on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. 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’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

Shares of HD opened at $405.60 on Wednesday. The company has a market capitalization of $402.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. Home Depot has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The firm has a 50-day simple moving average of $397.67 and a 200-day simple moving average of $365.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the company posted $3.81 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Home Depot will post 15.06 earnings per share for the current year.

Hedge Funds Weigh In On Home Depot

Large investors have recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC acquired a new stake in Home Depot in the second quarter valued at approximately $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter worth $47,000. 70.86% of the stock is currently owned by hedge funds and other 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.