Home Depot (NYSE:HD) Given New $430.00 Price Target at Robert W. Baird

Home Depot (NYSE:HD) had its price target decreased by Robert W. Baird from $440.00 to $430.00 in a report issued on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the home improvement retailer’s stock.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler reduced their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays increased their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Shares of HD opened at $390.40 on Wednesday. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37. The company’s 50 day simple moving average is $401.17 and its 200 day simple moving average is $398.42. The company has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HD. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. bought a new position in Home Depot during the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC lifted its stake in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Northern Trust Corp grew its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Home Depot during the 4th quarter valued at $471,189,000. 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.