Home Depot (NYSE:HD) Shares Down 0.7% After Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s stock price was down 0.7% on Tuesday after Evercore ISI lowered their price target on the stock from $420.00 to $415.00. Evercore ISI currently has an outperform rating on the stock. Home Depot traded as low as $334.72 and last traded at $335.47. Approximately 981,460 shares traded hands during trading, a decline of 70% from the average daily volume of 3,286,612 shares. The stock had previously closed at $337.93.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus upped their price objective on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday. HSBC reissued a “reduce” rating and set a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. Truist Financial increased their price target on Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Bank of America raised their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Activity at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred 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 of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Cape Investment Advisory Inc. boosted its position in shares of Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares in the last quarter. Optas LLC boosted its position in shares of Home Depot by 1.7% during the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after acquiring an additional 29 shares in the last quarter. STAR Financial Bank boosted its position in shares of Home Depot by 0.7% during the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after acquiring an additional 29 shares in the last quarter. Harvest Investment Advisors LLC boosted its position in shares of Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after acquiring an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its position in shares of Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

The company has a 50-day moving average price of $369.14 and a 200-day moving average price of $339.05. The firm has a market capitalization of $331.82 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.28 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

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

Home Depot Increases Dividend

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

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.