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

Home Depot (NYSE:HDGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages also recently weighed in on HD. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Tuesday, May 14th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Truist Financial reduced their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Wells Fargo & Company dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $370.00 target price on shares of Home Depot in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.46.

Read Our Latest Stock Report on HD

Home Depot Price Performance

NYSE:HD opened at $325.10 on Friday. The stock has a market capitalization of $322.37 billion, a PE ratio of 21.80, a P/E/G ratio of 2.24 and a beta of 1.01. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The firm has a fifty day simple moving average of $350.54 and a 200 day simple moving average of $348.29. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.82 EPS. On average, research analysts expect that Home Depot will post 15.31 EPS for the current fiscal year.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Home Depot by 92.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 91,960 shares of the home improvement retailer’s stock valued at $27,787,000 after purchasing an additional 44,130 shares during the last quarter. Schechter Investment Advisors LLC boosted its holdings in shares of Home Depot by 10.8% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,856 shares of the home improvement retailer’s stock valued at $2,676,000 after acquiring an additional 863 shares in the last quarter. Phoenix Wealth Advisors grew its position in Home Depot by 1.2% during the 3rd quarter. Phoenix Wealth Advisors now owns 10,121 shares of the home improvement retailer’s stock worth $3,058,000 after acquiring an additional 116 shares during the last quarter. Greytown Advisors Inc. acquired a new position in Home Depot in the 3rd quarter worth about $411,000. Finally, Wealthspire Advisors LLC raised its position in Home Depot by 25.6% in the third quarter. Wealthspire Advisors LLC now owns 16,621 shares of the home improvement retailer’s stock valued at $5,022,000 after purchasing an additional 3,388 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Company Profile

(Get Free Report)

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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