Truist Financial Has Lowered Expectations for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD - Free Report) had its target price reduced by Truist Financial from $437.00 to $391.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the home improvement retailer's stock.

Several other research firms also recently commented on HD. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada decreased their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Stock Down 0.0 %

Home Depot stock traded down $0.00 during midday trading on Tuesday, hitting $353.62. 3,574,295 shares of the stock were exchanged, compared to its average volume of 3,489,908. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The business's 50-day moving average price is $375.29 and its 200-day moving average price is $395.97.

Remove Ads

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the company posted $2.82 earnings per share. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $32,000. Finally, Quarry LP boosted its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.