Home Depot (NYSE:HD) Price Target Cut to $435.00 by Analysts at Piper Sandler

Home Depot (NYSE:HD) had its target price cut by Piper Sandler from $455.00 to $435.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

A number of other brokerages have also commented on HD. Wedbush reiterated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday. Mizuho lifted their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE HD opened at $390.40 on Wednesday. The firm’s fifty day moving average price is $401.17 and its two-hundred day moving average price is $398.42. The stock has a market cap of $387.81 billion, a PE ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. Home Depot has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. 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 posted its 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 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 company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, equities analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is 61.14%.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. POM Investment Strategies LLC increased its position in shares of Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. increased its position in shares of Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares in the last quarter. Insight Inv LLC increased its position in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares in the last quarter. Marino Stram & Associates LLC increased its position in shares of Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC increased its position in shares of Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares in the last quarter. 70.86% of the stock is owned by 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.