The Home Depot, Inc. (NYSE:HD – Get Free Report)’s stock price was down 0.7% on Tuesday after Evercore ISI lowered their price target on the stock from $420.00 to $415.00. Evercore ISI currently has an outperform rating on the stock. Home Depot traded as low as $334.72 and last traded at $335.47. Approximately 981,460 shares traded hands during trading, a decline of 70% from the average daily volume of 3,286,612 shares. The stock had previously closed at $337.93.
Other analysts have also issued reports about the company. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $370.00 price target on shares of Home Depot in a report on Wednesday, February 14th. Mizuho initiated coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Bank of America increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Telsey Advisory Group raised their price objective on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.
Insider Activity
In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of HD. Cape Investment Advisory Inc. boosted its holdings in Home Depot by 1.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares in the last quarter. Optas LLC lifted its stake in Home Depot by 1.7% in the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after buying an additional 29 shares during the last quarter. STAR Financial Bank lifted its stake in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after buying an additional 29 shares during the last quarter. Harvest Investment Advisors LLC lifted its stake in Home Depot by 0.8% in the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after buying an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its stake in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
Home Depot Stock Performance
The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The stock has a 50 day simple moving average of $369.56 and a two-hundred day simple moving average of $338.82. The company has a market cap of $331.82 billion, a PE ratio of 22.22, a PEG ratio of 2.28 and a beta of 0.98.
Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 earnings per share. Equities analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.
Home Depot Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s dividend payout ratio is 59.60%.
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.