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Canaccord Genuity increased their price target on shares of The Home Depot (NYSE:HD) from $77.00 to $78.00 in a research note issued on Tuesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price would suggest a potential downside of 6.69% from the company’s current price.

The Home Depot (NYSE:HD) traded up 5.54% on Tuesday, hitting $88.22. The stock had a trading volume of 8,625,861 shares. The Home Depot has a 52 week low of $72.21 and a 52 week high of $84.62. The stock’s 50-day moving average is $81.10 and its 200-day moving average is $79.48. The company has a market cap of $120.7 billion and a price-to-earnings ratio of 21.25. The Home Depot also was the target of unusually large options trading on Monday. Investors purchased 23,735 put options on the stock. This is an increase of approximately 250% compared to the typical daily volume of 6,773 put options.

The Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.07. The company had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that The Home Depot will post $4.41 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of The Home Depot in a research note on Tuesday. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Jefferies Group raised their price target on shares of The Home Depot from $90.00 to $95.00 in a research note on Tuesday, August 12th. They now have a “buy” rating on the stock. Finally, analysts at Wolfe Research upgraded shares of The Home Depot from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $88.47.

The Home Depot, Inc (NYSE:HD) is a home improvement retailer.

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