Home Depot (NYSE:HD) Shares Down 1.4% on Analyst Downgrade

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 1.4% during trading on Monday after Oppenheimer lowered their price target on the stock from $420.00 to $405.00. Oppenheimer currently has a market perform rating on the stock. Home Depot traded as low as $345.70 and last traded at $349.5440. Approximately 6,981,471 shares traded hands during trading, an increase of 92% from the average daily volume of 3,629,938 shares. The stock had previously closed at $354.61.

Several other brokerages have also issued reports on HD. KGI Securities lowered Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 price objective on the stock. in a report on Wednesday, November 19th. Gordon Haskett decreased their target price on Home Depot from $345.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday, November 19th. TD Cowen cut their price target on Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Argus reduced their price objective on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Robert W. Baird decreased their price objective on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $403.50.

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 transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors have recently modified their holdings of HD. Norges Bank purchased a new position in shares of Home Depot in the 2nd quarter valued at about $4,885,603,000. Laurel Wealth Advisors LLC grew its position in Home Depot by 36,207.5% during the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after buying an additional 10,049,029 shares during the period. Nuveen LLC purchased a new position in Home Depot in the first quarter valued at about $2,076,592,000. Valeo Financial Advisors LLC increased its holdings in Home Depot by 16,746.9% in the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after buying an additional 4,510,944 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

The company has a 50 day moving average price of $373.06 and a 200 day moving average price of $379.85. The firm has a market cap of $347.97 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 6.25 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s dividend payout ratio is currently 62.71%.

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.