Home Depot (NYSE:HD) Price Target Cut to $415.00 by Analysts at Evercore ISI

Home Depot (NYSE:HD) had its price target lowered by Evercore ISI from $420.00 to $415.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Several other analysts also recently issued reports on the company. Mizuho began coverage on Home Depot in a research note on Tuesday, March 19th. They set a buy rating and a $415.00 target price on the stock. Royal Bank of Canada lifted their target price on Home Depot from $299.00 to $377.00 and gave the company a sector perform rating in a research note on Monday, February 26th. Truist Financial lifted their target price on Home Depot from $386.00 to $417.00 and gave the company a buy rating in a research note on Monday, April 1st. Bank of America lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a buy rating in a research note on Monday, April 1st. Finally, Robert W. Baird reissued an outperform rating and set a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $375.96.

Home Depot Stock Down 0.9 %

HD stock opened at $334.83 on Tuesday. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The business’s 50-day moving average is $369.14 and its two-hundred day moving average is $339.05. The company has a market cap of $331.82 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 2.28 and a beta of 0.98. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.30 earnings per share. As a group, analysts forecast that Home Depot will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bare Financial Services Inc purchased a new position in Home Depot during the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot during the 4th quarter valued at $27,000. Fairfield Bush & CO. purchased a new position in shares of Home Depot in the 1st quarter valued at $27,000. KB Financial Partners LLC bought a new position in shares of Home Depot in the 1st quarter worth $28,000. Finally, Keener Financial Planning LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $31,000. 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.