Home Depot (NYSE:HD) Price Target Cut to $415.00

Home Depot (NYSE:HD) had its target price decreased by Evercore ISI from $420.00 to $415.00 in a report released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Home Depot from $347.00 to $393.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Telsey Advisory Group increased their price target on Home Depot from $335.00 to $360.00 and gave the stock a market perform rating in a research report on Monday, April 1st. Robert W. Baird restated an outperform rating and set a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Royal Bank of Canada upped their price objective on Home Depot from $299.00 to $377.00 and gave the stock a sector perform rating in a research note on Monday, February 26th. Finally, DA Davidson reissued a neutral rating and set a $370.00 price target on shares of Home Depot in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $375.96.

Home Depot Price Performance

Shares of NYSE HD opened at $334.83 on Tuesday. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The business has a 50 day moving average price of $369.14 and a two-hundred day moving average price of $339.05. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a market cap of $331.82 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates 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 revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. Sell-side analysts expect that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on 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 in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’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 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. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new position in shares of Home Depot during the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in Home Depot during the 4th quarter valued at about $27,000. Keener Financial Planning LLC purchased a new position in Home Depot during the 4th quarter valued at about $31,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter valued at about $27,000. Finally, PFG Private Wealth Management LLC boosted its holdings in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.