Home Depot (NYSE:HD) Price Target Cut to $410.00 by Analysts at Telsey Advisory Group

Home Depot (NYSE:HD) had its price objective lowered by Telsey Advisory Group from $430.00 to $410.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the home improvement retailer’s stock.

Several other analysts have also recently commented on HD. Guggenheim decreased their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Morgan Stanley reaffirmed an “outperform” rating on shares of Home Depot in a report on Wednesday. Daiwa Capital Markets decreased their price objective on Home Depot from $399.00 to $348.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Finally, Argus dropped their target price on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.47.

Home Depot Stock Performance

HD opened at $351.43 on Wednesday. The stock’s 50 day simple moving average is $369.79 and its 200-day simple moving average is $379.41. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The stock has a market cap of $349.86 billion, a PE ratio of 23.96, a P/E/G ratio of 6.09 and a beta of 1.06. Home Depot has a 1 year low of $326.31 and a 1 year high of $428.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. Home Depot’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Sell-side 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 is Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is 62.71%.

Insider Activity 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 stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Home Depot by 0.3% during the third quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after buying an additional 331,217 shares during the last quarter. State Street Corp grew its position in shares of Home Depot by 0.7% in the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after acquiring an additional 300,352 shares during the period. Geode Capital Management LLC grew its position in shares of Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after acquiring an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Home Depot by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after purchasing an additional 153,582 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Home Depot in the 2nd quarter valued at about $4,885,603,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.