Sanford C. Bernstein Issues Positive Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price objective hoisted by Sanford C. Bernstein from $403.00 to $406.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the home improvement retailer’s stock.

HD has been the topic of a number of other reports. DA Davidson reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company upped their price target on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial raised their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. Finally, Robert W. Baird boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.82.

Home Depot Stock Performance

Shares of NYSE HD traded up $1.64 during midday trading on Friday, hitting $370.71. The company’s stock had a trading volume of 2,761,250 shares, compared to its average volume of 3,505,917. The firm has a market capitalization of $369.00 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a fifty day moving average price of $397.28 and a 200 day moving average price of $381.27. Home Depot has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts forecast that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot’s payout ratio is 62.50%.

Insider Transactions at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Legend Financial Advisors Inc. bought a new position in shares of Home Depot in the second quarter worth approximately $28,000. Financially Speaking Inc purchased a new stake in Home Depot during the 3rd quarter valued at $31,000. Sagard Holdings Management Inc. bought a new stake in Home Depot in the 2nd quarter worth $29,000. LFA Lugano Financial Advisors SA bought a new stake in Home Depot in the 2nd quarter worth $32,000. Finally, Dougherty Wealth Advisers LLC purchased a new position in shares of Home Depot in the third quarter valued at about $38,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

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.