The Home Depot, Inc. (NYSE:HD – Get Free Report) traded down 1.2% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $406.00 to $396.00. Truist Financial currently has a buy rating on the stock. Home Depot traded as low as $363.64 and last traded at $363.64. 439,365 shares were traded during trading, a decline of 87% from the average session volume of 3,385,012 shares. The stock had previously closed at $368.16.
A number of other equities analysts have also recently issued reports on the stock. Evercore ISI increased their price objective on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Guggenheim restated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price objective for the company from $352.00 to $395.00 in a research note on Wednesday, June 26th. Citigroup dropped their price objective on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $381.40.
Insider Transactions at Home Depot
In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Home Depot
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bare Financial Services Inc bought a new stake in shares of Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $27,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $31,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth about $33,000. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $35,000. Institutional investors own 70.86% of the company’s stock.
Home Depot Stock Down 2.7 %
The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The company has a market capitalization of $355.37 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.51 and a beta of 0.98. The firm has a 50-day moving average price of $344.95 and a two-hundred day moving average price of $353.46.
Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.82 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.3 earnings per share for the current fiscal year.
Home Depot Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.51%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.
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.