Home Depot (NYSE:HD) Stock Rating Lowered by Gordon Haskett

Gordon Haskett lowered shares of Home Depot (NYSE:HD) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Performance

Home Depot stock opened at $353.78 on Friday. Home Depot has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $351.67 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The firm’s 50 day simple moving average is $384.89 and its 200 day simple moving average is $398.15.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $32,000. Finally, Quarry LP increased its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.