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

Home Depot, Inc. [NYSE: HD] stock went on an upward path that rose over 1.81% on Wednesday, amounting to a one-week price increase of more than 2.76%. The company report on February 6, 2024 at 8:00 AM that The Home Depot to Host Fourth Quarter & Fiscal Year Earnings Conference Call on February 20.

The Home Depot®, the world’s largest home improvement retailer, announced today that it will hold its Fourth Quarter & Fiscal 2023 Earnings Conference Call on Tuesday, February 20, at 9 a.m. ET.

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A webcast will be available by logging onto http://ir.homedepot.com/events-and-presentations and selecting the Fourth Quarter Earnings Conference Call icon. The webcast will be archived, and the replay will be available beginning at approximately noon on February 20.

Over the last 12 months, HD stock rose by 10.15%. The one-year Home Depot, Inc. stock forecast points to a potential downside of -2.98. The average equity rating for HD stock is currently 2.03, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $360.97 billion, with 1.02 billion shares outstanding and 992.63 million shares in the current float. Compared to the average trading volume of 3.56M shares, HD stock reached a trading volume of 3194328 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $352.21 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 2.03. 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.

Oppenheimer have made an estimate for Home Depot, Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on January 22, 2024.

The Average True Range (ATR) for Home Depot, Inc. is set at 6.05, with the Price to Sales ratio for HD stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 252.62, with the Price to Cash per share for the same quarter was set at 2.07. Price to Free Cash Flow for HD in the course of the last twelve months was 20.32 with Quick ratio for the last quarter at 0.33.

HD Stock Performance Analysis:

Home Depot, Inc. [HD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.76. With this latest performance, HD shares gained by 4.24% in over the last four-week period, additionally plugging by 10.64% over the last 6 months – not to mention a rise of 10.15% 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 62.03, with the RSI for the last a single of trading hit 63.29, and the three-weeks RSI is set at 62.05 for Home Depot, Inc. [HD]. The present Moving Average for the last 50 days of trading for this stock 344.60, while it was recorded at 358.28 for the last single week of trading, and 315.74 for the last 200 days.

Insight into Home Depot, Inc. Fundamentals:

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.

HD Stock EPS

With the latest financial reports released by the company, Home Depot, Inc. posted 3.3/share EPS, while the average EPS was predicted by analysts to be reported at 3.28/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.60%. 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 1.80%.

Home Depot, Inc. [HD] Institutonal Ownership Details

The top three institutional holders of HD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HD stock with ownership which is approximately 5.8325%.