Home Depot’s (HD) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Home Depot (NYSE:HD) in a research report released on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $360.00 price objective on the home improvement retailer’s stock.

Several other research analysts have also issued reports on HD. HSBC decreased their target price on Home Depot from $323.00 to $318.00 and set a reduce rating for the company in a research report on Wednesday, May 15th. TD Cowen lowered their price objective on Home Depot from $440.00 to $420.00 and set a buy rating for the company in a research report on Wednesday, May 15th. Truist Financial reduced their target price on shares of Home Depot from $396.00 to $395.00 and set a buy rating on the stock in a research report on Wednesday, August 14th. StockNews.com cut shares of Home Depot from a buy rating to a hold rating in a research report on Saturday, May 25th. Finally, Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a sector perform rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $387.79.

Home Depot Price Performance

Shares of Home Depot stock opened at $374.49 on Thursday. The business has a 50 day moving average of $360.13 and a 200 day moving average of $354.18. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a market cap of $371.35 billion, a PE ratio of 25.12, a P/E/G ratio of 2.49 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the company posted $4.65 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Home Depot will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Home Depot in the second quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $27,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot in the 1st quarter worth approximately $38,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Home Depot in the fourth quarter worth approximately $38,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.