Home Depot (NYSE:HD) Price Target Lowered to $410.00 at Morgan Stanley

Home Depot (NYSE:HD) had its target price reduced by Morgan Stanley from $450.00 to $410.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $432.54.

Home Depot Stock Performance

HD opened at $361.69 on Monday. The firm has a market cap of $359.53 billion, a P/E ratio of 24.57, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a 50 day simple moving average of $360.40 and a two-hundred day simple moving average of $389.79. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HD. K.J. Harrison & Partners Inc raised its stake in shares of Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after buying an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the last quarter. Pensionfund Sabic grew its holdings in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after acquiring an additional 3,800 shares during the period. Wedmont Private Capital grew its holdings in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Disciplined Investors L.L.C. acquired a new position in Home Depot in the fourth quarter valued at approximately $409,000. Hedge funds and other 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.