Sanford C. Bernstein Cuts Home Depot (NYSE:HD) Price Target to $365.00

Home Depot (NYSE:HD) had its target price decreased by Sanford C. Bernstein from $390.00 to $365.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. Sanford C. Bernstein currently has a market perform rating on the home improvement retailer’s stock.

HD has been the subject of several other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Home Depot in a research note on Friday, March 27th. Truist Financial decreased their price target on shares of Home Depot from $424.00 to $394.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup decreased their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp reiterated a “sector weight” rating on shares of Home Depot in a research note on Wednesday, February 25th. Finally, Robert W. Baird increased their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $405.66.

Home Depot Trading Down 2.3%

NYSE:HD opened at $297.34 on Thursday. The company has a 50-day moving average price of $331.77 and a 200-day moving average price of $354.39. Home Depot has a 12 month low of $296.88 and a 12 month high of $426.75. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62. The stock has a market cap of $296.16 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.43 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The firm had revenue of $38.20 billion during the quarter, compared to analysts’ expectations of $38.01 billion. During the same period last year, the company posted $3.13 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. Equities analysts predict that Home Depot will post 15.03 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a dividend of $2.33 per share. The ex-dividend date was Thursday, March 12th. This represents a $9.32 dividend on an annualized basis and a yield of 3.1%. This is an increase from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is 65.50%.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 2,550 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total transaction of $940,669.50. Following the completion of the sale, the chief financial officer directly owned 44,566 shares in the company, valued at approximately $16,439,951.74. This trade represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Home Depot

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter valued at about $4,850,329,000. Wellington Management Group LLP boosted its holdings in shares of Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares during the last quarter. Cardano Risk Management B.V. boosted its holdings in shares of Home Depot by 901.5% during the 4th quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock valued at $1,132,275,000 after acquiring an additional 2,961,979 shares during the last quarter. Diamant Asset Management Inc. boosted its holdings in shares of Home Depot by 33,026.3% during the 1st quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer’s stock valued at $770,269,000 after acquiring an additional 2,334,956 shares during the last quarter. Finally, J. Stern & Co. LLP boosted its holdings in shares of Home Depot by 14,869.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer’s stock valued at $768,210,000 after acquiring an additional 2,217,607 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Telsey Advisory reiterated a Buy rating on Home Depot, suggesting at least one Wall Street firm still sees value in the shares despite recent volatility.
• Positive Sentiment: Some commentary has highlighted Home Depot as a potential beneficiary if housing turnover and mortgage-rate conditions improve, which could support future sales and earnings.
• Neutral Sentiment: Investors are watching Home Depot closely ahead of earnings on May 19, with articles focusing on whether pro demand, digital tools, and repair projects can offset a weaker housing backdrop.
• Neutral Sentiment: Jim Cramer said Home Depot can perform well in a lower-rate environment, but also noted the stock needs stronger housing turnover to really accelerate.
• Negative Sentiment: Sanford C. Bernstein cut its price target on Home Depot to $365 from $390 and kept a Market Perform rating, reflecting a more cautious view on near-term upside.
• Negative Sentiment: A new class-action lawsuit reportedly pressured the stock, adding legal uncertainty at an already sensitive time for investors.
• Negative Sentiment: Recent pre-earnings pullback and broader worries about housing turnover have also weighed on sentiment, helping explain why Home Depot stock has been moving lower.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.