Home Depot (NYSE:HD) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Home Depot (NYSE:HD) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $455.00 target price on the home improvement retailer’s stock.

HD has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Robert W. Baird dropped their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Mizuho dropped their target price on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Truist Financial raised their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, DA Davidson dropped their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $427.76.

Home Depot Trading Up 2.9%

NYSE:HD opened at $406.2230 on Tuesday. The company’s 50 day moving average price is $371.82 and its 200-day moving average price is $371.43. Home Depot has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $404.16 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 2nd quarter valued at $9,289,000. Anchor Investment Management LLC increased its holdings in Home Depot by 0.7% in the 2nd quarter. Anchor Investment Management LLC now owns 20,192 shares of the home improvement retailer’s stock valued at $7,403,000 after acquiring an additional 132 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in Home Depot in the 2nd quarter valued at $39,000. Asset Dedication LLC increased its holdings in Home Depot by 2.0% in the 2nd quarter. Asset Dedication LLC now owns 12,181 shares of the home improvement retailer’s stock valued at $4,466,000 after acquiring an additional 239 shares during the last quarter. Finally, Hohimer Wealth Management LLC increased its holdings in Home Depot by 414.5% in the 2nd quarter. Hohimer Wealth Management LLC now owns 11,288 shares of the home improvement retailer’s stock valued at $4,139,000 after acquiring an additional 9,094 shares during the last quarter. 70.86% of the stock is currently owned by 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.