Home Depot (HD) Surges on Analyst Optimism

Home Depot rose 1.9% during the morning session to $334.08 per share. As reported by Barrons: "Shares of Home Depot and Philip Morris were rising Tuesday after being named top investment ideas for 2023 by Cowen. Home Depot ( ticker: HD ) is analyst Max Rakhlenko's top choice." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.

The Home Depot, Inc. operates as a home improvement retailer. The company belongs to the Consumer Cyclical sector, which has an average price to earnings (P/E) ratio of 24.11 and an average price to book (P/B) ratio of 3.11. In contrast, Home Depot has a trailing 12 month P/E ratio of 20.1 and a P/B ratio of 262.4.

Home Depot has moved -18.5% over the last year compared to -13.9% for the S&P 500 -- a difference of -4.6%. Home Depot has a 52 week high of $417.84 and a 52 week low of $264.51. At today's price of $334.08 per share, Home Depot is -2.38% away from its target price of $342.22, and on average, analysts give the stock a rating of buy. 1.2% of the company's shares are linked to short positions, and 71.5% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.