Home Depot (NYSE:HD) Price Target Cut to $375.00 by Analysts at Truist Financial

Home Depot (NYSE:HD) had its price objective decreased by Truist Financial from $379.00 to $375.00 in a research note issued to investors on Wednesday morning,MarketScreener reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently commented on HD. Zacks Research cut shares of Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $413.00 price objective on shares of Home Depot in a report on Wednesday. Royal Bank Of Canada dropped their target price on Home Depot from $376.00 to $366.00 and set a “sector perform” rating for the company in a report on Wednesday. Sanford C. Bernstein restated a “market perform” rating and set a $362.00 price target on shares of Home Depot in a research report on Monday, November 24th. Finally, Evercore ISI lowered their price objective on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $401.47.

Home Depot Price Performance

Shares of NYSE:HD opened at $351.43 on Wednesday. The firm has a market capitalization of $349.86 billion, a PE ratio of 23.96, a P/E/G ratio of 6.09 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The company has a 50-day moving average price of $369.79 and a two-hundred day moving average price of $379.41. Home Depot has a twelve month low of $326.31 and a twelve month high of $428.00.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities analysts forecast that Home Depot will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.6%. Home Depot’s payout ratio is 62.71%.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several hedge funds and other institutional investors have recently modified their holdings of HD. Mainstay Capital Management LLC ADV purchased a new position in Home Depot in the second quarter worth about $263,000. WealthPlan Investment Management LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $1,149,000. Tower View Wealth Management LLC boosted its holdings in shares of Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd bought a new position in shares of Home Depot during the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. increased its position in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.