Wolfe Research Cuts Home Depot (NYSE:HD) Price Target to $414.00

Home Depot (NYSE:HD) had its target price lowered by Wolfe Research from $423.00 to $414.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

A number of other research analysts have also weighed in on HD. Wells Fargo & Company reduced their price target on Home Depot from $400.00 to $395.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI dropped their target price on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. KGI Securities downgraded Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 target price on the stock. in a research report on Wednesday, November 19th. Telsey Advisory Group decreased their price target on Home Depot from $430.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada dropped their price objective on shares of Home Depot from $376.00 to $366.00 and set a “sector perform” rating for the company in a research note on Wednesday. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $401.17.

Home Depot Price Performance

Shares of NYSE HD opened at $359.52 on Wednesday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. Home Depot has a one year low of $326.31 and a one year high of $426.75. The firm has a market capitalization of $357.90 billion, a P/E ratio of 24.51, a PEG ratio of 13.32 and a beta of 1.06. The company’s fifty day moving average is $368.34 and its two-hundred day moving average is $379.23.

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

Home Depot Announces Dividend

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

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the transaction, the executive vice president owned 12,320 shares of the company’s stock, valued at $4,413,763.20. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC boosted its stake in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Home Depot in the 2nd quarter worth $28,000. Sagard Holdings Management Inc. acquired a new stake in shares of Home Depot in the second quarter valued at $29,000. Financially Speaking Inc bought a new position in Home Depot during the third quarter valued at about $31,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Home Depot during the second quarter worth about $32,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.