Home Depot (NYSE:HD) stock is on the move Tuesday after releasing results for its fourth quarter of 2021 alongside new analyst price predictions.
Unfortunately for investors in HD stock, shares are slipping despite a solid quarter. Home Depot reported diluted earnings per share of $3.21 on revenue of $35.7 billion. Both of these are better than the $3.17 per share and revenue of $34.87 billion that analysts were expecting.
If that’s the case, then why is HD stock falling today? It looks like the company’s profitability is the problem. It didn’t reach analysts’ estimates and there are concerns about the effect inflation will have on the company.
With the most recent HD earnings report out, analysts are weighing in with new price predictions for the company. But first, note that the consensus rating for HD shares is buy with the consensus price target sitting at $424.90.
Keeping that in mind, here’s three new price predictions that analysts have for HD stock.
HD Stock Price Predictions
- Jefferies analyst Anna Glaessgen reiterated a buy rating for HD stock while also setting a new price target at $121 per share.
- Wells Fargo analyst Zachary Fadem is sticking with his buy rating for HD stock and introduced a new price target of $460 per share.
- Telsey analyst Joseph Feldman is keeping his outperform rating for HD stock alongside a new price target of $425 per share.
HD stock is seeing heavy trading today on its earnings news. As of this writing, more than 9 million shares of the stock have changed hands. That’s quite the jump from the company’s daily average trading volume of 4.2 million shares.
HD stock is down 8.9% as of Tuesday afternoon.
There’s more stock market news worth checking out below!
InvestorPlace has all the latest stock market coverage that traders need for Tuesday! Among that is when AMC Entertainment (NYSE:AMC) will report earnings, what analysts are saying about DraftKings (NASDAQ:DKNG) stock, as well as the news slamming Chinese stocks today. You can find all of that at the links below!
More Stock Market News for Tuesday
- Dear AMC Stock Fans, Mark Your Calendars for March 1
- Is DKNG Stock a Buy Right Now? 4 Analysts Weigh In on DraftKings.
- Chinese Stocks Alert: Why Are BABA, TCEHY, JD, PDD Stocks Down Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.