Home Depot (NYSE:HD) Stock Price Down 0.7% Following Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s stock price was down 0.7% on Tuesday after Evercore ISI lowered their price target on the stock from $420.00 to $415.00. Evercore ISI currently has an outperform rating on the stock. Home Depot traded as low as $334.72 and last traded at $335.47. Approximately 981,460 shares changed hands during trading, a decline of 70% from the average daily volume of 3,286,612 shares. The stock had previously closed at $337.93.

HD has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Oppenheimer lowered shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. Truist Financial raised their target price on shares of Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bare Financial Services Inc purchased a new position in Home Depot during the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter worth $27,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the first quarter valued at $27,000. KB Financial Partners LLC bought a new position in shares of Home Depot in the first quarter worth about $28,000. Finally, Keener Financial Planning LLC purchased a new position in Home Depot in the 4th quarter worth about $31,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

The company has a market cap of $329.84 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The business’s fifty day moving average is $368.54 and its two-hundred day moving average is $339.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. Home Depot’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.70%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

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.