Home Depot (NYSE:HD) Downgraded to “Hold” Rating by Gordon Haskett

Gordon Haskett downgraded shares of Home Depot (NYSE:HD) from a buy rating to a hold rating in a report published on Friday, Marketbeat reports.

Several other equities analysts have also issued reports on HD. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Robert W. Baird cut their target price on 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 upgraded Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Down 0.6 %

Shares of NYSE:HD opened at $353.78 on Friday. The business has a fifty day simple moving average of $384.89 and a 200 day simple moving average of $398.15. Home Depot has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market cap of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 earnings per share. Analysts predict that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Webster Bank N. A. lifted its holdings in Home Depot by 0.9% during the first quarter. Webster Bank N. A. now owns 19,838 shares of the home improvement retailer’s stock valued at $7,270,000 after purchasing an additional 175 shares during the last quarter. Sage Capital Advisors llc lifted its stake in shares of Home Depot by 0.9% during the 1st quarter. Sage Capital Advisors llc now owns 19,642 shares of the home improvement retailer’s stock valued at $7,199,000 after buying an additional 176 shares in the last quarter. Legacy Private Trust Co. boosted its holdings in Home Depot by 21.4% in the 1st quarter. Legacy Private Trust Co. now owns 8,217 shares of the home improvement retailer’s stock worth $3,011,000 after buying an additional 1,450 shares during the period. Versant Capital Management Inc grew its stake in Home Depot by 25.5% in the 1st quarter. Versant Capital Management Inc now owns 8,219 shares of the home improvement retailer’s stock valued at $3,012,000 after buying an additional 1,672 shares in the last quarter. Finally, First Citizens Financial Corp raised its holdings in Home Depot by 1.0% during the 1st quarter. First Citizens Financial Corp now owns 5,373 shares of the home improvement retailer’s stock valued at $1,969,000 after acquiring an additional 52 shares during the period. Institutional investors own 70.86% of the company’s stock.

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.