Home Depot’s (HD) “Buy” Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Home Depot (NYSE:HD) in a research note released on Wednesday, Benzinga reports. The firm currently has a $417.00 target price on the home improvement retailer’s stock.

Several other equities analysts have also recently commented on the company. Evercore ISI reduced their target price on Home Depot from $420.00 to $415.00 and set an outperform rating for the company in a research note on Tuesday. Oppenheimer cut Home Depot from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Guggenheim reiterated a buy rating and set a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. The Goldman Sachs Group upped their price target on Home Depot from $347.00 to $393.00 and gave the company a buy rating in a research report on Tuesday, February 13th. Finally, HSBC reissued a reduce rating and set a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $375.96.

Home Depot Stock Down 0.6 %

NYSE HD opened at $332.83 on Wednesday. The stock has a market cap of $329.84 billion, a PE ratio of 22.04, a P/E/G ratio of 2.23 and a beta of 0.98. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The business has a 50 day moving average price of $368.54 and a two-hundred day moving average price of $339.01. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 EPS. As a group, sell-side analysts predict that Home Depot will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently made changes to their positions in the stock. Congress Wealth Management LLC DE grew its stake in shares of Home Depot by 3.7% during the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after purchasing an additional 3,162 shares during the period. Wolf Group Capital Advisors grew its stake in shares of Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares during the period. Alliance Wealth Management Group acquired a new position in Home Depot in the fourth quarter valued at about $253,000. Psagot Value Holdings Ltd. Israel grew its stake in Home Depot by 8.0% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the period. Finally, Zullo Investment Group Inc. grew its stake in Home Depot by 6.6% in the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after acquiring an additional 504 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

About Home Depot

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.