Home Depot (NYSE:HD) Stock Rating Upgraded by Zacks Research

Home Depot (NYSE:HD) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

HD has been the subject of several other reports. Bank of America dropped their target price on Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $424.00 target price on shares of Home Depot in a research note on Wednesday, December 10th. Finally, Evercore dropped their price target on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $404.47.

Home Depot Stock Up 2.1%

Shares of NYSE HD opened at $389.19 on Monday. The stock has a market cap of $387.44 billion, a PE ratio of 26.53, a P/E/G ratio of 13.60 and a beta of 1.08. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. Home Depot has a 12-month low of $326.31 and a 12-month high of $426.75. The company has a 50-day moving average of $363.99 and a 200 day moving average of $379.73.

Home Depot (NYSE:HD) last issued its 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). The company had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, sell-side analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Insider Transactions at Home Depot

In other news, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president directly owned 3,941 shares in the company, valued at $1,409,419.83. This trade represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,963 shares of company stock worth $1,748,845. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parvin Asset Management LLC boosted its stake in shares of Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares during the period. Financially Speaking Inc acquired a new stake in Home Depot during the 3rd quarter worth approximately $31,000. Sagard Holdings Management Inc. purchased a new position in Home Depot in the 2nd quarter valued at approximately $29,000. Key Capital Management INC acquired a new position in shares of Home Depot in the fourth quarter worth $28,000. Finally, Imprint Wealth LLC acquired a new position in shares of Home Depot in the third quarter worth $34,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.