Home Depot, Inc. [HD] stock Reiterated by Telsey Advisory Group analyst, price target now $360

Home Depot, Inc. [NYSE: HD] traded at a low on Tuesday, posting a -1.37 loss after which it closed the day’ session at $363.00. The company report on April 2, 2024 at 8:00 AM that THE HOME DEPOT UNVEILS SEASONAL SAVINGS DURING SPRING BLACK FRIDAY EVENT.

The Home Depot is kicking off its Spring Black Friday, setting up customers to go from doing to done with month-long seasonal savings on products to make their homes warm-weather ready. From April 4 – 28, 2024, The Home Depot invites doers to discover and shop incredible discounts on a wide range of spring home improvement essentials, including plants, mulch, landscaping tools, grills, outdoor power equipment and more – prepping for an unforgettable season of curb appeal, spring cleaning, gardening and barbecue-bash hosting.

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“Our customers can look forward to amazing deals on the quality, innovative brands they know and trust. This event is our way of helping doers make the most of the spring season,” said Billy Bastek, executive vice president of merchandising for The Home Depot. “Whether our customers are looking for a new grill to enjoy with family and friends or colorful flowers and seasonal vegetables to refresh their gardens, our highly anticipated Spring Black Friday event promises savings on a wide variety of products to help them transform their homes.”.

The results of the trading session contributed to over 4647153 shares changing hands. Over the past one week, the price volatility of Home Depot, Inc. stands at 2.01% while the volatility over the past one month is 1.66%.

The market cap for HD stock reached $359.74 billion, with 992.00 million shares outstanding and 988.49 million shares in the current float. Compared to the average trading volume of 3.19M shares, HD reached a trading volume of 4647153 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $382.98 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.

Telsey Advisory Group have made an estimate for Home Depot, Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on April 01, 2024. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on March 19, 2024, representing the official price target for Home Depot, Inc. stock. Previously, the target price had yet another raise to $323, while HSBC Securities analysts kept a Reduce rating on HD stock. On February 15, 2024, analysts increased their price target for HD shares from 325 to 335.

The Average True Range (ATR) for Home Depot, Inc. is set at 7.03, with the Price to Sales ratio for HD stock in the period of the last 12 months amounting to 2.36. The Price to Book ratio for the last quarter was 344.92, with the Price to Cash per share for the same quarter was set at 3.79. Price to Free Cash Flow for HD in the course of the last twelve months was 20.05 with Quick ratio for the last quarter at 0.40.

How has HD stock performed recently?

Home Depot, Inc. [HD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.35. With this latest performance, HD shares dropped by -5.58% in over the last four-week period, additionally plugging by 20.14% over the last 6 months – not to mention a rise of 27.21% 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 39.98, with the RSI for the last a single of trading hit 33.72, and the three-weeks RSI is set at 44.44 for Home Depot, Inc. [HD]. The present Moving Average for the last 50 days of trading for this stock 369.09, while it was recorded at 376.09 for the last single week of trading, and 330.71 for the last 200 days.

Home Depot, Inc. [HD]: Deeper insight into the fundamentals

Home Depot, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 1.35.

Earnings analysis for Home Depot, Inc. [HD]

With the latest financial reports released by the company, Home Depot, Inc. posted 3.4/share EPS, while the average EPS was predicted by analysts to be reported at 3.38/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 4.30%.

Insider trade positions for Home Depot, Inc. [HD]

The top three institutional holders of HD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in HD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in HD stock with ownership which is approximately 5.8386%.