Piper Sandler Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its target price cut by research analysts at Piper Sandler from $435.00 to $418.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s target price indicates a potential upside of 15.82% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Truist Financial cut their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

NYSE:HD opened at $360.90 on Monday. The business’s 50-day moving average is $392.82 and its 200 day moving average is $399.16. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market capitalization of $358.50 billion, a P/E ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Avant Financial Advisors LLC bought a new stake in Home Depot during the 4th quarter valued at $238,000. Fire Capital Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $933,000. Mascagni Wealth Management Inc. bought a new stake in Home Depot during the fourth quarter valued at about $172,000. Prostatis Group LLC grew its stake in Home Depot by 4.5% in the fourth quarter. Prostatis Group LLC now owns 5,891 shares of the home improvement retailer’s stock valued at $2,291,000 after purchasing an additional 255 shares during the last quarter. Finally, Nestegg Advisors Inc. bought a new position in Home Depot in the fourth quarter worth about $665,000. 70.86% of the stock is currently 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.