Royal Bank of Canada Cuts Home Depot (NYSE:HD) Price Target to $363.00

Home Depot (NYSE:HD) had its target price lowered by research analysts at Royal Bank of Canada from $377.00 to $363.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective points to a potential upside of 1.66% from the company’s current price.

A number of other research firms have also weighed in on HD. Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Stifel Nicolaus cut their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price target for the company from $352.00 to $395.00 in a research note on Wednesday, June 26th. Finally, UBS Group increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $384.00.

Home Depot Trading Up 2.0 %

NYSE:HD traded up $7.02 on Wednesday, reaching $357.09. 2,319,990 shares of the company’s stock were exchanged, compared to its average volume of 3,418,036. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $354.10 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The business has a fifty day moving average of $348.96 and a 200-day moving average of $353.14. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. As a group, analysts expect that Home Depot will post 15.28 earnings per share for the current year.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in shares of Home Depot in the second quarter valued at $25,000. Bare Financial Services Inc purchased a new position in shares of Home Depot in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $27,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the second quarter valued at $33,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot in the first quarter valued at $38,000. Hedge funds and other 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.