Wells Fargo & Company Cuts Home Depot (NYSE:HD) Price Target to $420.00

Home Depot (NYSE:HD) had its price objective trimmed by Wells Fargo & Company from $445.00 to $420.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the home improvement retailer’s stock.

Other research analysts have also recently issued reports about the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $430.32.

Home Depot Stock Down 0.6 %

Shares of NYSE:HD opened at $362.55 on Thursday. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market cap of $360.39 billion, a P/E ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.05. The business has a fifty day moving average of $358.23 and a two-hundred day moving average of $388.76. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new position in shares of Home Depot during the first quarter worth approximately $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter valued at $32,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.