Home Depot (NYSE:HD) Rating Lowered to Hold at StockNews.com

Home Depot (NYSE:HD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently weighed in on HD. Wedbush upped their price target on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Telsey Advisory Group upped their price target on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a report on Monday, April 1st. Stifel Nicolaus increased their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Truist Financial increased their target price on Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Mizuho began coverage on Home Depot in a report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price on the stock. One 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.35.

Home Depot Stock Performance

NYSE HD opened at $337.93 on Tuesday. The stock has a market capitalization of $334.90 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.28 and a beta of 0.98. 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 business’s 50 day moving average is $369.56 and its two-hundred day moving average is $338.82. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for 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 company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. Research analysts expect that Home Depot will post 15.37 EPS for the current year.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the 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 transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Edward P. Decker sold 35,987 shares of the 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 completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction 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 owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several large investors have recently added to or reduced their stakes in the stock. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $27,000. Fairfield Bush & CO. acquired a new stake in shares of Home Depot during the first quarter valued at about $27,000. KB Financial Partners LLC acquired a new stake in shares of Home Depot during the first quarter valued at about $28,000. Finally, Keener Financial Planning LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $31,000. 70.86% 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 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.