Home Depot (NYSE:HD) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Home Depot (NYSE:HDGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other equities research analysts have also weighed in on HD. Guggenheim increased their price objective on shares of Home Depot from $350.00 to $355.00 and gave the stock a buy rating in a research note on Wednesday, August 17th. Piper Sandler increased their price objective on shares of Home Depot to $327.00 in a research note on Monday, August 22nd. Robert W. Baird increased their price objective on shares of Home Depot from $335.00 to $360.00 and gave the stock an outperform rating in a research note on Tuesday, August 16th. UBS Group increased their price objective on shares of Home Depot from $360.00 to $370.00 and gave the stock a buy rating in a research note on Wednesday, August 17th. Finally, MKM Partners began coverage on shares of Home Depot in a research report on Thursday, June 23rd. They issued a neutral rating and a $285.00 target price for the company. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of Moderate Buy and an average target price of $365.95.

Home Depot Stock Performance

Shares of Home Depot stock opened at $269.14 on Tuesday. The firm has a market cap of $275.53 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The firm’s 50-day simple moving average is $299.46 and its 200-day simple moving average is $299.57. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. Home Depot has a 1 year low of $264.51 and a 1 year high of $420.61.

Home Depot (NYSE:HDGet Rating) last issued its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. The business had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.53 EPS. Equities analysts forecast that Home Depot will post 16.56 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 annualized dividend and a dividend yield of 2.82%. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.

Home Depot announced that its Board of Directors has approved a stock buyback plan on Thursday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matt Carey sold 12,650 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the completion of the sale, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rinkey Investments acquired a new position in Home Depot in the 4th quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in Home Depot in the 1st quarter worth $25,000. Tobam acquired a new stake in Home Depot in the 1st quarter worth $27,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the 1st quarter worth $27,000. Finally, Clear Perspectives Financial Planning LLC grew its position in Home Depot by 135.0% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 68.66% of the company’s stock.

Home Depot Company Profile

(Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Analyst Recommendations for Home Depot (NYSE:HD)

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