Home Depot (NYSE:HD) Lowered to “Sell” at DZ Bank

DZ Bank downgraded shares of Home Depot (NYSE:HD) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Home Depot from a sell rating to a hold rating in a research note on Thursday, May 23rd. Wedbush reiterated a neutral rating and issued a $230.00 target price (up from $190.00) on shares of Home Depot in a research note on Wednesday, August 21st. KeyCorp reiterated a hold rating on shares of Home Depot in a research note on Wednesday, August 21st. Argus set a $240.00 target price on shares of Home Depot and gave the stock a buy rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird increased their target price on shares of Home Depot from $220.00 to $230.00 and gave the stock an outperform rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Home Depot has an average rating of Buy and a consensus price target of $221.39.

Home Depot stock opened at $224.67 on Thursday. Home Depot has a twelve month low of $158.09 and a twelve month high of $235.49. The firm has a 50 day moving average price of $219.47 and a 200-day moving average price of $204.89. The company has a market capitalization of $249.83 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.27 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $3.07 by $0.10. The company had revenue of $30.84 billion for the quarter, compared to analysts’ expectations of $30.98 billion. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. Home Depot’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. As a group, research analysts expect that Home Depot will post 10.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Wednesday, September 4th. Home Depot’s dividend payout ratio is currently 55.01%.

In related news, EVP Edward P. Decker sold 22,908 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the transaction, the executive vice president now owns 87,343 shares of the company’s stock, valued at approximately $19,839,962.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William G. Lennie sold 9,200 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the transaction, the executive vice president now directly owns 84,123 shares in the company, valued at approximately $18,511,266.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,508 shares of company stock worth $39,076,428. 0.27% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Haverford Trust Co. boosted its stake in shares of Home Depot by 48.3% during the 2nd quarter. Haverford Trust Co. now owns 85,280 shares of the home improvement retailer’s stock valued at $17,736,000 after purchasing an additional 27,760 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Home Depot by 2.0% during the 2nd quarter. Carroll Financial Associates Inc. now owns 10,769 shares of the home improvement retailer’s stock valued at $2,239,000 after purchasing an additional 216 shares in the last quarter. Berkeley Capital Partners LLC boosted its stake in shares of Home Depot by 22.0% during the 2nd quarter. Berkeley Capital Partners LLC now owns 5,521 shares of the home improvement retailer’s stock valued at $1,148,000 after purchasing an additional 996 shares in the last quarter. BB&T Securities LLC boosted its stake in shares of Home Depot by 3.8% during the 2nd quarter. BB&T Securities LLC now owns 257,070 shares of the home improvement retailer’s stock valued at $53,462,000 after purchasing an additional 9,329 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Home Depot by 2.8% during the 1st quarter. First Trust Advisors LP now owns 435,297 shares of the home improvement retailer’s stock valued at $83,529,000 after purchasing an additional 11,951 shares in the last quarter. 69.92% of the stock is currently owned by institutional investors and hedge funds.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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