Home Depot (NYSE:HD) Price Target Cut to $437.00 by Analysts at Truist Financial

Home Depot (NYSE:HD) had its price objective decreased by Truist Financial from $467.00 to $437.00 in a research note released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

Other research analysts have also recently issued research reports about the company. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday. Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Barclays lifted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

HD stock opened at $390.40 on Wednesday. The stock’s fifty day moving average is $401.17 and its two-hundred day moving average is $398.42. The stock 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 has a 1 year low of $323.77 and a 1 year high of $439.37.

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 the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts predict that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.14%.

Institutional Trading of Home Depot

Hedge funds have recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $32,000. Finally, Quarry LP raised its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.