Home Depot (NYSE:HD) Downgraded by StockNews.com

StockNews.com lowered shares of Home Depot (NYSE:HD) from a buy rating to a hold rating in a research report released on Friday.

A number of other analysts have also recently commented on the company. DA Davidson reiterated a neutral rating and set a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Truist Financial reissued a buy rating and set a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. Citigroup increased their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Zelman & Associates upgraded shares of Home Depot from a neutral rating to an outperform rating in a research report on Tuesday, April 2nd. Finally, Barclays raised shares of Home Depot from an equal weight rating to an overweight rating and boosted their target price for the company from $325.00 to $372.00 in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $375.96.

Home Depot Stock Performance

NYSE HD traded down $1.19 during trading hours on Friday, hitting $341.66. 914,884 shares of the company’s stock traded hands, compared to its average volume of 3,320,994. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The firm has a market capitalization of $338.59 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.28 and a beta of 1.01. The business’s fifty day moving average price is $361.75 and its two-hundred day moving average price is $342.77.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the company earned $3.30 earnings per share. Home Depot’s revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that Home Depot will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.63%. Home Depot’s dividend payout ratio is 59.60%.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value 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. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the company. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter worth about $31,000. PFG Private Wealth Management LLC lifted its position in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Home Depot during the fourth quarter worth about $35,000. Institutional investors own 70.86% of the company’s stock.

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.