Evercore ISI Trims Home Depot (NYSE:HD) Target Price to $415.00

Home Depot (NYSE:HD) had its price objective decreased by Evercore ISI from $420.00 to $415.00 in a research note released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

Other analysts also recently issued research reports about the company. Piper Sandler raised Home Depot from a neutral rating to an overweight rating and raised their price target for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. StockNews.com downgraded Home Depot from a buy rating to a hold rating in a research note on Tuesday. HSBC reaffirmed a reduce rating and set a $323.00 target price on shares of Home Depot in a research note on Wednesday, April 3rd. Bank of America lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a buy rating in a research note on Monday, April 1st. Finally, Wells Fargo & Company lifted their target price on Home Depot from $385.00 to $400.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of Moderate Buy and a consensus price target of $375.96.

Home Depot Trading Up 0.0 %

Shares of NYSE HD opened at $332.89 on Tuesday. The company has a market cap of $329.90 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. Home Depot has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock’s 50 day simple moving average is $367.92 and its 200 day simple moving average is $338.97.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. Equities research analysts expect that Home Depot will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

A number of institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its position in Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after purchasing an additional 1,698,402 shares during the last quarter. Capital Research Global Investors boosted its position in Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Home Depot by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after purchasing an additional 347,614 shares during the last quarter. Norges Bank acquired a new stake in Home Depot during the fourth quarter valued at $4,311,070,000. Finally, Northern Trust Corp boosted its position in Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after purchasing an additional 153,141 shares during the last quarter. Institutional investors and hedge funds 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.