Home Depot (NYSE:HD) Price Target Cut to $450.00 by Analysts at DA Davidson

Home Depot (NYSE:HD) had its target price trimmed by DA Davidson from $470.00 to $450.00 in a report issued on Tuesday morning.

HD has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. 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 Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday. Finally, Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $424.60.

Home Depot Trading Down 0.7%

Shares of NYSE:HD opened at $376.84 on Tuesday. The company has a market cap of $374.59 billion, a P/E ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. The stock’s fifty day moving average price is $358.99 and its 200-day moving average price is $387.78.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the company posted $3.63 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently modified their holdings of HD. Asset Planning Services Inc. LA ADV increased its position in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at approximately $5,032,910,000. GAMMA Investing LLC increased its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Home Depot during the 4th quarter valued at $2,212,546,000. Finally, Nuveen LLC purchased a new position in Home Depot during the 1st quarter valued at $2,076,592,000. Institutional investors own 70.86% of the company’s stock.

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.