Robert W. Baird Cuts Home Depot (NYSE:HD) Price Target to $415.00

Home Depot (NYSE:HD) had its price target cut by Robert W. Baird from $450.00 to $415.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the home improvement retailer’s stock.

A number of other equities research analysts have also issued reports on HD. Gordon Haskett cut their price target on Home Depot from $400.00 to $345.00 in a research note on Monday, November 10th. KGI Securities cut Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 target price for the company. in a research report on Wednesday. Oppenheimer lifted their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Home Depot in a research note on Thursday, November 13th. Finally, Wells Fargo & Company cut their price objective on shares of Home Depot from $435.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $410.24.

Home Depot Price Performance

NYSE HD opened at $343.22 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. Home Depot has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market cap of $341.64 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.59 and a beta of 1.00. The company’s 50 day moving average is $385.34 and its two-hundred day moving average is $381.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts anticipate that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.7%. Home Depot’s payout ratio is presently 62.71%.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the business. Watts Gwilliam & Co. LLC grew its stake in shares of Home Depot by 9.3% in the 3rd quarter. Watts Gwilliam & Co. LLC now owns 4,509 shares of the home improvement retailer’s stock worth $1,827,000 after buying an additional 385 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Home Depot in the 3rd quarter valued at about $60,107,000. Alpine Global Management LLC bought a new position in shares of Home Depot in the 3rd quarter valued at about $986,000. Maple Capital Management Inc. grew its position in Home Depot by 2.1% in the third quarter. Maple Capital Management Inc. now owns 87,307 shares of the home improvement retailer’s stock worth $35,376,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its stake in Home Depot by 3.4% during the third quarter. Achmea Investment Management B.V. now owns 150,613 shares of the home improvement retailer’s stock worth $61,027,000 after acquiring an additional 4,942 shares during 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.