Fintel reports that on October 9, 2024, Loop Capital upgraded their outlook for Home Depot (NYSE:HD) from Hold to Buy.
Analyst Price Forecast Suggests 5.94% Downside
As of September 25, 2024, the average one-year price target for Home Depot is $391.37/share. The forecasts range from a low of $292.90 to a high of $454.65. The average price target represents a decrease of 5.94% from its latest reported closing price of $416.07 / share.
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The projected annual revenue for Home Depot is 168,817MM, an increase of 11.00%. The projected annual non-GAAP EPS is 18.47.
What is the Fund Sentiment?
There are 5,022 funds or institutions reporting positions in Home Depot. This is an increase of 7 owner(s) or 0.14% in the last quarter. Average portfolio weight of all funds dedicated to HD is 0.72%, an increase of 8.24%. Total shares owned by institutions increased in the last three months by 0.97% to 786,218K shares. 
The put/call ratio of HD is 1.17, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 31,317K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 31,269K shares , representing an increase of 0.15%. The firm decreased its portfolio allocation in HD by 12.60% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 25,436K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 25,081K shares , representing an increase of 1.39%. The firm decreased its portfolio allocation in HD by 13.85% over the last quarter.
Capital World Investors holds 25,102K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 37,665K shares , representing a decrease of 50.05%. The firm decreased its portfolio allocation in HD by 41.08% over the last quarter.
Geode Capital Management holds 21,267K shares representing 2.14% ownership of the company. In its prior filing, the firm reported owning 20,693K shares , representing an increase of 2.70%. The firm decreased its portfolio allocation in HD by 54.30% over the last quarter.
Bank Of America holds 14,189K shares representing 1.43% ownership of the company. In its prior filing, the firm reported owning 14,671K shares , representing a decrease of 3.39%. The firm decreased its portfolio allocation in HD by 79.66% over the last quarter.
Home Depot Background Information
(This description is provided by the company.)
The Home Depot is the world's largest home improvement specialty retailer, with 2,296 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2019, The Home Depot had sales of $110.2 billion and earnings of $11.2 billion. The company employs more than 400,000 associates. The Home Depot's stock is traded on the New York Stock Exchange and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
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