Home Depot (NYSE:HD) Cut to “Hold” at Gordon Haskett

Gordon Haskett downgraded shares of Home Depot (NYSE:HD) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat Ratings reports.

HD has been the subject of several other reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Down 0.6 %

Home Depot stock opened at $353.78 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50 day moving average price of $384.89 and a 200 day moving average price of $398.35. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a market capitalization of $351.67 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. Research analysts expect that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Institutional Trading of Home Depot

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Home Depot in the fourth quarter valued at $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted its stake in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp boosted its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Home Depot during the fourth quarter worth about $471,189,000. 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.