Home Depot (NYSE:HD) Stock Price Down 1.2% After Analyst Downgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded down 1.2% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $437.00 to $391.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as low as $326.31 and last traded at $331.23. 1,521,267 shares were traded during trading, a decline of 56% from the average session volume of 3,467,072 shares. The stock had previously closed at $335.24.

Other equities analysts also recently issued research reports about the company. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and lifted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company increased their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $434.08.

Remove Ads

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after purchasing an additional 141,915 shares in the last quarter. Morse Asset Management Inc increased its stake in Home Depot by 12.9% in the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock valued at $12,357,000 after buying an additional 3,493 shares during the last quarter. Invst LLC lifted its position in Home Depot by 1.7% during the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock worth $2,719,000 after buying an additional 115 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Home Depot by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock worth $1,089,000 after buying an additional 115 shares during the last quarter. Finally, Tudor Financial Inc. bought a new position in shares of Home Depot in the 3rd quarter valued at about $1,027,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.0 %

The business has a 50-day moving average of $375.29 and a 200-day moving average of $395.97. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $351.51 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business's revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is 61.66%.

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.