Home Depot (NYSE:HD) Price Target Lowered to $435.00 at Piper Sandler

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

Several other equities research analysts also recently issued reports on the stock. Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada cut their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Down 0.7 %

Shares of NYSE:HD opened at $390.40 on Wednesday. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a market capitalization of $387.81 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a 50-day simple moving average of $401.17 and a 200 day simple moving average of $398.42. 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 issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new position in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during 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.