Home Depot (NYSE:HD) Shares Down 0.1% Following Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s share price dropped 0.1% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $445.00 to $420.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as low as $362.49 and last traded at $362.49. Approximately 413,872 shares traded hands during trading, a decline of 88% from the average daily volume of 3,436,757 shares. The stock had previously closed at $362.75.

HD has been the topic of several other research reports. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective 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 report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $430.32.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the company. POM Investment Strategies LLC grew its holdings in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares during the period. Center for Financial Planning Inc. grew its holdings in Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares during the period. Marino Stram & Associates LLC increased its holdings in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the last quarter. Live Oak Private Wealth LLC lifted its stake in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares in the last quarter. Finally, Mezzasalma Advisors LLC grew its stake in Home Depot by 4.0% during the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.6 %

The company has a market capitalization of $362.61 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a 50-day simple moving average of $358.61 and a 200 day simple moving average of $389.10. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 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.