Evercore ISI Cuts Home Depot (NYSE:HD) Price Target to $425.00

Home Depot (NYSE:HD) had its price target trimmed by Evercore ISI from $450.00 to $425.00 in a research report report published on Wednesday, Marketbeat reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

A number of other research analysts have also recently issued reports on HD. DZ Bank reaffirmed a “sell” rating on shares of Home Depot in a report on Tuesday. DA Davidson restated a “buy” rating and issued a $475.00 target price on shares of Home Depot in a research note on Tuesday. Telsey Advisory Group dropped their price target on Home Depot from $455.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $370.00 target price (down previously from $440.00) on shares of Home Depot in a research report on Friday, November 14th. Twenty-one research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $410.24.

Home Depot Price Performance

Shares of HD stock opened at $343.22 on Wednesday. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The firm has a market capitalization 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 stock’s 50-day simple moving average is $385.34 and its 200-day simple 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 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is 62.71%.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was 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. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently made changes to their positions in HD. Prana Capital Management LP acquired a new position in shares of Home Depot in the 3rd quarter valued at $6,128,000. Watts Gwilliam & Co. LLC increased its holdings in Home Depot by 9.3% in the third quarter. Watts Gwilliam & Co. LLC now owns 4,509 shares of the home improvement retailer’s stock valued at $1,827,000 after buying an additional 385 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Home Depot in the third quarter valued at $60,107,000. Alpine Global Management LLC acquired a new position in shares of Home Depot in the third quarter worth about $986,000. Finally, Maple Capital Management Inc. boosted its stake in shares of Home Depot by 2.1% during the 3rd 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. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.