Telsey Advisory Group Upgrades Home Depot: Positive Forecast Ahead
Fintel reports that on November 8, 2024, Telsey Advisory Group upgraded their outlook for Home Depot (XTRA:HDI) from Market Perform to Outperform.
Analyst Price Forecast Indicates Potential Growth
As of October 21, 2024, the average one-year price target for Home Depot stands at 375,00 €/share. The estimates range from a low of 268,76 € to a high of 443,20 €. This average forecast reflects a modest potential increase of 1.74% from the last reported closing price of 368,60 € / share.
Revenue and Earnings Expectations Remain Strong
The projected annual revenue for Home Depot is estimated at 166,339MM, marking a growth of 9.37%. Additionally, the projected annual non-GAAP EPS is anticipated to be 17.30.
Insight into Fund Sentiment
Currently, 5,089 funds or institutions hold positions in Home Depot, which is an increase of 118 (or 2.37%) from the previous quarter. The average portfolio allocation for all funds dedicated to HDI is 0.74%, slightly up by 0.17%. Institutional ownership also rose over the last three months, with total shares increasing by 4.99% to 794,134K shares.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 31,317K shares, equating to 3.15% of the company. Previously, they reported 31,269K shares, showing an increase of 0.15%. However, their portfolio allocation in HDI has decreased by 12.60% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 25,436K shares, representing 2.56% ownership. In its last filing, they noted 25,081K shares, indicating a 1.39% increase. Still, their portfolio allocation in HDI dropped by 13.85% this quarter.
Capital World Investors holds 25,102K shares, representing 2.53% ownership. In their prior filing, they reported 37,665K shares, a significant decrease of 50.05%. Their portfolio allocation in HDI has also declined by 41.08% over the past quarter.
Geode Capital Management holds 21,267K shares, or 2.14% of the company, up from a previous holding of 20,693K shares, a 2.70% increase. Yet, their portfolio allocation in HDI fell by 54.30% in the last quarter.
Bank of America holds 14,189K shares, representing 1.43% ownership. Previously, they held 14,671K shares. This reflects a decrease of 3.39%, with a drastic 79.66% reduction in their portfolio allocation in HDI over the last quarter.
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This story originally appeared on Fintel.
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