Home Depot’s (HD) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Home Depot (NYSE:HD) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $455.00 price objective on the home improvement retailer’s stock.

Several other brokerages have also commented on HD. Oppenheimer upped their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. Stifel Nicolaus increased their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a research report on Monday. DA Davidson reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $429.33.

Home Depot Trading Down 1.6%

Shares of NYSE HD traded down $5.99 during midday trading on Thursday, reaching $362.08. The stock had a trading volume of 3,411,606 shares, compared to its average volume of 3,496,482. The company’s 50 day moving average price is $393.15 and its 200 day moving average price is $381.69. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. Home Depot has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a market cap of $360.41 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts expect that Home Depot will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is 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 company. Norges Bank bought a new stake in shares of Home Depot during the 2nd quarter worth $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 valued at $3,694,552,000 after buying an additional 10,049,029 shares during the period. Nuveen LLC purchased a new stake in Home Depot during the first quarter worth about $2,076,592,000. Valeo Financial Advisors LLC raised its position 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 worth $1,663,768,000 after acquiring an additional 4,510,944 shares during the period. Finally, Wellington Management Group LLP raised its position in Home Depot by 60.8% in the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after acquiring an additional 3,836,051 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.