Home Depot (NYSE:HD) Given New $395.00 Price Target at Citigroup

Home Depot (NYSE:HD) had its price objective lowered by Citigroup from $415.00 to $395.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the home improvement retailer’s stock.

Several other research analysts have also commented on the company. DA Davidson reiterated a neutral rating and issued a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. Wedbush boosted their price objective on shares of Home Depot from $380.00 to $410.00 and gave the company an outperform rating in a research report on Monday, April 1st. Mizuho began coverage on Home Depot in a research note on Tuesday, March 19th. They issued a buy rating and a $415.00 target price for the company. Royal Bank of Canada raised their price target on Home Depot from $299.00 to $377.00 and gave the stock a sector perform rating in a report on Monday, February 26th. Finally, The Goldman Sachs Group increased their target price on Home Depot from $347.00 to $393.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of Moderate Buy and an average target price of $375.19.

Home Depot Stock Performance

Shares of HD stock opened at $340.71 on Tuesday. The company’s fifty day moving average price is $360.47 and its two-hundred day moving average price is $343.54. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The firm has a market capitalization of $337.65 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.28 and a beta of 1.01. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last posted 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 the consensus estimate of $34.64 billion. During the same period in the previous year, the business earned $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, 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 document filed with the SEC, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently modified their holdings of the company. Sawyer & Company Inc grew its stake in Home Depot by 1.5% during the third quarter. Sawyer & Company Inc now owns 8,482 shares of the home improvement retailer’s stock worth $2,563,000 after buying an additional 124 shares during the last quarter. Lathrop Investment Management Corp grew its position in Home Depot by 4.1% during the 3rd quarter. Lathrop Investment Management Corp now owns 38,998 shares of the home improvement retailer’s stock worth $11,784,000 after acquiring an additional 1,550 shares during the last quarter. Godsey & Gibb Inc. increased its holdings in Home Depot by 0.3% during the 3rd quarter. Godsey & Gibb Inc. now owns 60,733 shares of the home improvement retailer’s stock valued at $18,351,000 after purchasing an additional 195 shares in the last quarter. Oak Harvest Investment Services raised its position in Home Depot by 8.0% in the 3rd quarter. Oak Harvest Investment Services now owns 33,677 shares of the home improvement retailer’s stock valued at $10,176,000 after purchasing an additional 2,482 shares during the last quarter. Finally, Monument Capital Management boosted its stake in Home Depot by 2.1% in the third quarter. Monument Capital Management now owns 5,617 shares of the home improvement retailer’s stock worth $1,697,000 after purchasing an additional 113 shares in the last quarter. Institutional investors 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.