Home Depot (NYSE:HD) Stock Price Down 1.2% on Analyst Downgrade

The Home Depot, Inc. (NYSE:HD) fell 1.2% on Wednesday after Truist Financial lowered their price target on the stock from $437.00 to $391.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as low as $326.31 and last traded at $331.23. 1,521,267 shares traded hands during trading, a decline of 56% from the average session volume of 3,467,072 shares. The stock had previously closed at $335.24.

A number of other analysts have also recently weighed in on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Gordon Haskett lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.08.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in HD. Principal Financial Group Inc. lifted its stake in Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares in the last quarter. Morse Asset Management Inc raised its holdings in shares of Home Depot by 12.9% during the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after acquiring an additional 3,493 shares during the period. Soltis Investment Advisors LLC lifted its position in Home Depot by 16.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,911 shares of the home improvement retailer’s stock valued at $1,585,000 after acquiring an additional 545 shares in the last quarter. Invst LLC increased its holdings in Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock worth $2,719,000 after purchasing an additional 115 shares in the last quarter. Finally, McIlrath & Eck LLC increased its holdings in Home Depot by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock worth $1,089,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.6 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $351.27 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average price of $376.45 and a 200 day moving average price of $396.27.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for 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 business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Home Depot Company Profile

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.