JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its target price increased by stock analysts at JPMorgan Chase & Co. from $450.00 to $475.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the home improvement retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 16.60% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on HD. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. Morgan Stanley upped their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada increased their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $428.78.

Home Depot Stock Down 1.6 %

Shares of HD opened at $407.39 on Monday. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market capitalization of $404.68 billion, a P/E ratio of 27.68, a P/E/G ratio of 4.22 and a beta of 1.05. The company has a 50-day simple moving average of $406.14 and a 200-day simple moving average of $394.24. 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 (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping 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 company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the company earned $3.81 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that Home Depot will post 15.12 earnings per share for the current year.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last 90 days. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot during the 3rd quarter worth $336,231,000. Finally, FMR LLC lifted its holdings in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 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.