Robert W. Baird Forecasts Strong Price Appreciation for Home Depot (NYSE:HD) Stock

Home Depot (NYSE:HD) had its target price upped by equities research analysts at Robert W. Baird from $400.00 to $430.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 11.51% from the stock’s current price.

Several other research analysts also recently weighed in on HD. BNP Paribas Exane boosted their target price on Home Depot from $353.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. UBS Group set a $430.00 price target on Home Depot in a report on Wednesday, December 10th. Daiwa Securities Group upped their price objective on shares of Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Gordon Haskett lifted their target price on shares of Home Depot from $330.00 to $370.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $424.00 price target on shares of Home Depot in a research note on Wednesday, December 10th. Twenty-one analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $407.73.

Home Depot Stock Down 1.4%

Shares of Home Depot stock opened at $385.61 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The company has a market cap of $383.88 billion, a P/E ratio of 26.33, a PEG ratio of 13.97 and a beta of 1.08. The firm’s 50 day moving average price is $366.99 and its 200-day moving average price is $380.21. Home Depot has a 52-week low of $326.31 and a 52-week high of $426.75.

Home Depot (NYSE:HD) last announced 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 firm had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. Home Depot’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $3.78 earnings per share. On average, sell-side analysts predict that Home Depot will post 15.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 2,872 shares of the company’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the transaction, the executive vice president owned 13,196 shares of the company’s stock, valued at approximately $4,599,069.92. This represents a 17.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 145 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,963 shares of company stock worth $1,748,845. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in HD. Parvin Asset Management LLC raised its stake in shares of Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 33 shares during the period. Advocate Investing Services LLC acquired a new position in Home Depot during the 4th quarter worth about $25,000. Financially Speaking Inc purchased a new stake in shares of Home Depot during the third quarter worth $31,000. Sagard Holdings Management Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at about $29,000. Finally, Key Capital Management INC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.