Home Depot (NYSE:HD) Price Target Cut to $418.00 by Analysts at Piper Sandler

Home Depot (NYSE:HD) had its price objective cut by Piper Sandler from $435.00 to $418.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

A number of other brokerages have also recently weighed in on HD. Wells Fargo & Company boosted their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective 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. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $362.01 on Monday. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The firm has a market capitalization of $359.61 billion, a P/E ratio of 24.59, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company’s fifty day moving average price is $391.94 and its 200 day moving average price is $398.90.

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

Home Depot Increases Dividend

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

Institutional Trading of Home Depot

A number of hedge funds have recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in 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 worth approximately $28,000. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.