RBC Capital Mkts slashes price target on Home Depot, Inc. [HD] – find out why.

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Home Depot, Inc. [NYSE: HD] closed the trading session at $303.63 on 11/14/23. The day’s price range saw the stock hit a low of $300.14, while the highest price level was $308.24. The company report on November 14, 2023 at 6:00 AM that The Home Depot Announces Third Quarter Fiscal 2023 Results; Narrows Fiscal 2023 Guidance.

– The Home Depot®, the world’s largest home improvement retailer, today reported sales of $37.7 billion for the third quarter of fiscal 2023, a decrease of 3.0% from the third quarter of fiscal 2022. Comparable sales for the third quarter of fiscal 2023 decreased 3.1%, and comparable sales in the U.S. decreased 3.5%.

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Net earnings for the third quarter of fiscal 2023 were $3.8 billion, or $3.81 per diluted share, compared with net earnings of $4.3 billion, or $4.24 per diluted share, in the same period of fiscal 2022.

The stocks have a year to date performance of -3.87 percent and weekly performance of 3.01 percent. The stock has been moved at 7.54 percent over the last six months. The stock has performed 2.12 percent around the most recent 30 days and changed -8.83 percent over the most recent 3-months.

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If compared to the average trading volume of 2.93M shares, HD reached to a volume of 7939147 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Home Depot, Inc. [HD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HD shares is $335.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HD stock is a recommendation set at 2.16. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Home Depot, Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on November 07, 2023.

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The Average True Range (ATR) for Home Depot, Inc. is set at 5.99, with the Price to Sales ratio for HD stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 227.67, with the Price to Cash per share for the same quarter was set at 2.06. Price to Free Cash Flow for HD in the course of the last twelve months was 17.10 with Quick ratio for the last quarter at 0.33.

HD stock trade performance evaluation

Home Depot, Inc. [HD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.01. With this latest performance, HD shares gained by 2.12% in over the last four-week period, additionally plugging by 7.54% over the last 6 months – not to mention a drop of -3.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HD stock in for the last two-week period is set at 60.41, with the RSI for the last a single of trading hit 66.32, and the three-weeks RSI is set at 55.85 for Home Depot, Inc. [HD]. The present Moving Average for the last 50 days of trading for this stock 299.85, while it was recorded at 293.42 for the last single week of trading, and 304.11 for the last 200 days.

Home Depot, Inc. [HD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Home Depot, Inc. [HD] shares currently have an operating margin of +15.27 and a Gross Margin at +31.97. Home Depot, Inc.’s Net Margin is presently recorded at +10.87.

Return on Total Capital for HD is now 49.82, given the latest momentum, and Return on Invested Capital for the company is 38.01. When it comes to the capital structure of this company, Home Depot, Inc. [HD] has a Total Debt to Total Equity ratio set at 3,224.33. Additionally, HD Total Debt to Total Capital is recorded at 96.99, with Total Debt to Total Assets ending up at 65.88. Long-Term Debt to Equity for the company is recorded at 3,085.02, with the Long-Term Debt to Total Capital now at 92.80.

Reflecting on the efficiency of the workforce at the company, Home Depot, Inc. [HD] managed to generate an average of $36,270 per employee. Receivables Turnover for the company is 46.69 with a Total Asset Turnover recorded at a value of 2.12.Home Depot, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.33 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Home Depot, Inc. [HD] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Home Depot, Inc. go to 3.20%.

Home Depot, Inc. [HD]: Institutional Ownership

The top three institutional holders of HD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HD stock with ownership which is approximately 5.7994%.

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