Stifel Nicolaus Lowers Home Depot (NYSE:HD) Price Target to $350.00

Home Depot (NYSE:HD) had its price target reduced by research analysts at Stifel Nicolaus from $370.00 to $350.00 in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the home improvement retailer’s stock. Stifel Nicolaus’ price target indicates a potential downside of 1.14% from the company’s current price.

HD has been the topic of several other research reports. Wells Fargo & Company dropped their price target on Home Depot from $435.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Zacks Research downgraded Home Depot from a “hold” rating to a “strong sell” rating in a report on Thursday, November 27th. Evercore ISI dropped their target price on Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Sanford C. Bernstein restated a “market perform” rating and issued a $362.00 target price on shares of Home Depot in a research note on Monday, November 24th. Finally, TD Cowen decreased their price target on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $403.93.

Home Depot Stock Performance

Shares of HD stock opened at $354.03 on Monday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. Home Depot has a 52 week low of $326.31 and a 52 week high of $436.36. The company’s 50 day moving average price is $376.35 and its two-hundred day moving average price is $380.30. The company has a market capitalization of $352.44 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly 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 company had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. During the same quarter last year, the company earned $3.78 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Home Depot by 0.3% during the third quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after purchasing an additional 331,217 shares during the period. State Street Corp grew its holdings in Home Depot by 0.7% in the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after buying an additional 300,352 shares in the last quarter. Geode Capital Management LLC grew its holdings in Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after buying an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Home Depot by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after buying an additional 153,582 shares during the period. Finally, Norges Bank acquired a new stake in shares of Home Depot during the second quarter worth $4,885,603,000. Institutional investors own 70.86% of the company’s stock.

About Home Depot

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.