Home Depot (NYSE:HD) Stock Price Down 1.4% Following Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s share price was down 1.4% on Monday after Oppenheimer lowered their price target on the stock from $420.00 to $405.00. Oppenheimer currently has a market perform rating on the stock. Home Depot traded as low as $345.70 and last traded at $349.5440. Approximately 6,981,471 shares were traded during mid-day trading, an increase of 92% from the average daily volume of 3,629,938 shares. The stock had previously closed at $354.61.

HD has been the topic of a number of other research reports. Wolfe Research lowered their target price on Home Depot from $497.00 to $423.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Zacks Research cut Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. Royal Bank Of Canada lowered their price target on Home Depot from $401.00 to $376.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 19th. Wells Fargo & Company dropped their price objective on Home Depot from $435.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Finally, Guggenheim decreased their target price on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $403.50.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Parvin Asset Management LLC lifted its holdings in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 33 shares during the last quarter. Legend Financial Advisors Inc. bought a new position in Home Depot during the 2nd quarter worth $28,000. Sagard Holdings Management Inc. bought a new position in Home Depot during the 2nd quarter worth $29,000. Financially Speaking Inc acquired a new stake in shares of Home Depot during the third quarter worth $31,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Home Depot in the second quarter valued at about $32,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

The firm has a market capitalization of $343.50 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 6.17 and a beta of 1.06. The company’s 50 day moving average is $370.71 and its 200 day moving average is $379.61. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.7%. Home Depot’s dividend payout ratio is currently 62.71%.

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.