Home Depot (NYSE:HD) had its target price lifted by investment analysts at Wedbush from $200.00 to $230.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the home improvement retailer’s stock. Wedbush’s target price suggests a potential downside of 4.31% from the stock’s previous close. Wedbush also issued estimates for Home Depot’s Q2 2021 earnings at $3.23 EPS, Q3 2021 earnings at $2.49 EPS, FY2021 earnings at $9.86 EPS, Q1 2022 earnings at $2.25 EPS, Q2 2022 earnings at $3.32 EPS, Q3 2022 earnings at $2.67 EPS, Q4 2022 earnings at $2.28 EPS and FY2023 earnings at $10.84 EPS.

A number of other equities research analysts also recently issued reports on the stock. Raymond James lifted their price target on shares of Home Depot from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Home Depot from $231.00 to $236.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. Morgan Stanley cut their target price on shares of Home Depot from $225.00 to $215.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Credit Suisse Group dropped their price objective on shares of Home Depot from $255.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Finally, Robert W. Baird upped their target price on shares of Home Depot from $215.00 to $265.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $251.03.

Shares of NYSE HD traded down $0.53 during mid-day trading on Wednesday, hitting $240.35. The company had a trading volume of 1,017,511 shares, compared to its average volume of 5,816,201. The company has a market capitalization of $255.84 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.19 and a beta of 1.03. Home Depot has a 1-year low of $140.63 and a 1-year high of $248.32. The business’s 50-day simple moving average is $212.69 and its 200 day simple moving average is $219.44.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. During the same quarter last year, the firm posted $2.27 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts expect that Home Depot will post 9.83 earnings per share for the current fiscal year.

In other Home Depot news, EVP William G. Lennie sold 9,848 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $234.34, for a total transaction of $2,307,780.32. Following the transaction, the executive vice president now owns 37,995 shares of the company’s stock, valued at $8,903,748.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Equitable Trust Co. boosted its position in shares of Home Depot by 46.8% during the 1st quarter. Equitable Trust Co. now owns 33,230 shares of the home improvement retailer’s stock worth $6,204,000 after acquiring an additional 10,599 shares in the last quarter. Capital Advisors Inc. OK boosted its position in shares of Home Depot by 614.7% in the 1st quarter. Capital Advisors Inc. OK now owns 113,926 shares of the home improvement retailer’s stock valued at $21,271,000 after purchasing an additional 97,986 shares during the period. Bay Harbor Wealth Management LLC lifted its position in Home Depot by 15.2% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 318 shares of the home improvement retailer’s stock worth $59,000 after acquiring an additional 42 shares during the period. Johnson Investment Counsel Inc. lifted its position in Home Depot by 516.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 201,920 shares of the home improvement retailer’s stock worth $37,701,000 after acquiring an additional 169,147 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in Home Depot by 19.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,981 shares of the home improvement retailer’s stock worth $2,797,000 after acquiring an additional 2,450 shares during the period. Hedge funds and other institutional investors own 69.75% of the company’s stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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