Home Depot (NYSE:HD) Stock Price Down 0.5% on Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s stock price fell 0.5% on Wednesday after Citigroup lowered their price target on the stock from $415.00 to $395.00. Citigroup currently has a buy rating on the stock. Home Depot traded as low as $337.63 and last traded at $338.89. 498,715 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,312,404 shares. The stock had previously closed at $340.69.

HD has been the subject of several other research reports. Oppenheimer cut Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Robert W. Baird restated an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Guggenheim reiterated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $375.19.

Insider Buying and Selling

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

Hedge Funds Weigh In On Home Depot

Large investors have recently modified their holdings of the business. Koshinski Asset Management Inc. lifted its holdings in shares of Home Depot by 31.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 9,125 shares of the home improvement retailer’s stock worth $3,501,000 after acquiring an additional 2,183 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in Home Depot during the 1st quarter worth approximately $225,000. Schneider Downs Wealth Management Advisors LP acquired a new stake in Home Depot during the 1st quarter worth approximately $352,000. MAI Capital Management boosted its position in Home Depot by 3.6% in the 1st quarter. MAI Capital Management now owns 212,453 shares of the home improvement retailer’s stock valued at $81,497,000 after buying an additional 7,434 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in shares of Home Depot by 17.9% in the first quarter. Baltimore Washington Financial Advisors Inc. now owns 45,326 shares of the home improvement retailer’s stock worth $17,387,000 after acquiring an additional 6,885 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

The firm has a market cap of $335.66 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. 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 business has a 50-day moving average price of $360.47 and a two-hundred day moving average price of $343.54.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter last year, the business posted $3.30 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

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.