StockNews.com Lowers Home Depot (NYSE:HD) to Hold

StockNews.com downgraded shares of Home Depot (NYSE:HDFree Report) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other analysts have also recently commented on HD. Mizuho assumed coverage on Home Depot in a research report on Tuesday, March 19th. They set a buy rating and a $415.00 price target for the company. Barclays upgraded shares of Home Depot from an equal weight rating to an overweight rating and increased their target price for the company from $325.00 to $372.00 in a research report on Thursday, January 4th. Stifel Nicolaus upped their price objective on shares of Home Depot from $355.00 to $366.00 and gave the company a hold rating in a research note on Friday, February 16th. Telsey Advisory Group raised their target price on shares of Home Depot from $325.00 to $335.00 and gave the stock a market perform rating in a research note on Thursday, February 15th. Finally, Guggenheim upped their price target on Home Depot from $370.00 to $390.00 and gave the company a buy rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $368.76.

View Our Latest Stock Report on HD

Home Depot Stock Performance

HD opened at $383.60 on Friday. The firm has a fifty day moving average price of $369.40 and a 200 day moving average price of $335.33. Home Depot has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market cap of $380.16 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.53 and a beta of 0.99. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the previous year, the business earned $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Home Depot will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.35%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s payout ratio is 59.60%.

Insider Transactions at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC acquired a new stake in shares of Home Depot during the 2nd quarter valued at approximately $26,000. Bare Financial Services Inc purchased a new position in Home Depot in the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot during the fourth quarter worth $27,000. Fairfield Bush & CO. purchased a new stake in Home Depot during the first quarter worth $27,000. Finally, KB Financial Partners LLC acquired a new stake in Home Depot in the first quarter valued at $28,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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