Home Depot (NYSE:HD) Shares Down 0.1% After Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s share price was down 0.1% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $445.00 to $420.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as low as $362.49 and last traded at $362.49. Approximately 413,872 shares traded hands during trading, a decline of 88% from the average daily volume of 3,436,757 shares. The stock had previously closed at $362.75.

Several other research analysts have also recently issued reports on the stock. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Gordon Haskett downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley decreased their price target on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.32.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at approximately $32,000. Finally, Abound Financial LLC bought a new position in Home Depot during the first quarter worth $31,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 0.6 %

The stock has a market cap of $360.39 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm’s 50 day simple moving average is $358.23 and its two-hundred day simple moving average is $388.83. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results 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. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.