Piper Sandler Raises Home Depot (NYSE:HD) Price Target to $455.00

Home Depot (NYSE:HD) had its target price boosted by equities research analysts at Piper Sandler from $387.00 to $455.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the home improvement retailer’s stock. Piper Sandler’s price target suggests a potential upside of 11.19% from the company’s current price.

HD has been the subject of several other reports. Oppenheimer lifted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Truist Financial reduced their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $394.08.

Home Depot Stock Performance

Shares of Home Depot stock opened at $409.21 on Monday. The company has a market capitalization of $405.78 billion, a PE ratio of 27.45, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a 50-day simple moving average of $369.92 and a two-hundred day simple moving average of $355.36. Home Depot has a one year low of $274.26 and a one year high of $410.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the company earned $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Research analysts expect that Home Depot will post 15.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC bought a new position in Home Depot during the second quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in Home Depot during the second quarter valued at approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Home Depot during the first quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Home Depot in the fourth quarter valued at $39,000. Institutional investors and hedge funds 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.