Oppenheimer Cuts Home Depot (NYSE:HD) Price Target to $405.00

Home Depot (NYSE:HD) had its price target lowered by Oppenheimer from $420.00 to $405.00 in a report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the home improvement retailer’s stock.

HD has been the subject of several other reports. BNP Paribas Exane upped their target price on Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a report on Friday. Mizuho upped their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Jefferies Financial Group decreased their target price on Home Depot from $474.00 to $438.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. KGI Securities downgraded shares of Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 price target on the stock. in a report on Wednesday, November 19th. Finally, Guggenheim reduced their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $403.50.

Home Depot Stock Performance

Shares of Home Depot stock opened at $354.65 on Friday. The business has a 50-day simple moving average of $373.06 and a 200 day simple moving average of $379.85. Home Depot has a one year low of $326.31 and a one year high of $436.36. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The firm has a market capitalization of $353.05 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 6.25 and a beta of 1.06.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, research analysts anticipate that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Centerpoint Advisory Group lifted its holdings in Home Depot by 0.8% during the 2nd quarter. Centerpoint Advisory Group now owns 3,163 shares of the home improvement retailer’s stock worth $1,160,000 after purchasing an additional 26 shares in the last quarter. Disciplined Investors L.L.C. increased its position in shares of Home Depot by 2.3% during the second quarter. Disciplined Investors L.L.C. now owns 1,178 shares of the home improvement retailer’s stock valued at $432,000 after buying an additional 26 shares during the period. Brio Consultants LLC lifted its holdings in shares of Home Depot by 4.7% in the second quarter. Brio Consultants LLC now owns 574 shares of the home improvement retailer’s stock worth $210,000 after buying an additional 26 shares in the last quarter. Emprise Bank lifted its holdings in shares of Home Depot by 0.8% in the third quarter. Emprise Bank now owns 3,135 shares of the home improvement retailer’s stock worth $1,270,000 after buying an additional 26 shares in the last quarter. Finally, Stegent Equity Advisors Inc. boosted its position in shares of Home Depot by 2.7% in the third quarter. Stegent Equity Advisors Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after acquiring an additional 26 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.