Home Depot (NYSE:HD) Hits New 12-Month Low Following Analyst Downgrade

The Home Depot, Inc. (NYSE:HD) reached a new 52-week low during trading on Monday after Gordon Haskett lowered their price target on the stock from $395.00 to $330.00. The company traded as low as $310.36 and last traded at $309.9710, with a volume of 2486600 shares changing hands. The stock had previously closed at $317.45.

A number of other analysts have also weighed in on HD. Piper Sandler cut their target price on shares of Home Depot from $441.00 to $422.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. KeyCorp reiterated a “sector weight” rating on shares of Home Depot in a research note on Wednesday, February 25th. Wolfe Research increased their price target on shares of Home Depot from $413.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Bank of America initiated coverage on shares of Home Depot in a research note on Tuesday, May 5th. They issued a “buy” rating and a $374.00 price target on the stock. Finally, Evercore dropped their price target on shares of Home Depot from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $410.86.

Insider Buying and Selling at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the transaction, the chief financial officer owned 44,566 shares in the company, valued at $16,439,951.74. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Advocate Investing Services LLC purchased a new stake in Home Depot during the 4th quarter worth about $25,000. Parvin Asset Management LLC grew its holdings in Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after buying an additional 33 shares during the period. Cache Advisors LLC purchased a new stake in Home Depot in the 1st quarter valued at about $27,000. Key Capital Management INC purchased a new stake in Home Depot in the 4th quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Home Depot in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 2.4%

The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.26 and a current ratio of 1.06. The company has a market cap of $308.63 billion, a PE ratio of 21.79, a PEG ratio of 3.66 and a beta of 1.00. The firm has a fifty day simple moving average of $339.65 and a 200 day simple moving average of $357.57.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were issued a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, March 12th. This is an increase from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is presently 65.50%.

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.