Home Depot’s (HD) Buy Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of Home Depot (NYSE:HD) in a report issued on Tuesday,Benzinga reports. They currently have a $450.00 price target on the home improvement retailer’s stock.

A number of other brokerages have also recently issued reports on HD. Robert W. Baird lowered 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. Stifel Nicolaus boosted their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday. Gordon Haskett boosted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Finally, TD Securities lowered shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $427.76.

Home Depot Trading Up 2.9%

Shares of HD stock opened at $406.2230 on Tuesday. The company’s fifty day simple moving average is $371.82 and its two-hundred day simple moving average is $371.43. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. Home Depot has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market capitalization 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 issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the firm earned $4.60 EPS. The company’s 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. As a group, analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 payout ratio is 62.42%.

Insider Buying and Selling at Home Depot

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. bought a new position in shares of Home Depot during the second quarter valued at about $28,000. Navigoe LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $29,000. Sagard Holdings Management Inc. bought a new position in shares of Home Depot during the second quarter valued at about $29,000. Abound Financial LLC bought a new position in shares of Home Depot during the first quarter valued at about $31,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Home Depot during the second quarter valued at about $32,000. 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.