Home Depot (NYSE:HD) Price Target Cut to $400.00 by Analysts at UBS Group

Home Depot (NYSE:HD) had its price objective lowered by UBS Group from $411.00 to $400.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

Several other equities analysts have also commented on the company. TD Cowen increased their price objective on Home Depot from $415.00 to $440.00 and gave the company an outperform rating in a research report on Monday, March 4th. DA Davidson restated a neutral rating and set a $370.00 price target on shares of Home Depot in a research report on Monday, April 1st. Robert W. Baird restated an outperform rating and set a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. StockNews.com lowered Home Depot from a buy rating to a hold rating in a research report on Friday, May 3rd. Finally, Piper Sandler upgraded Home Depot from a neutral rating to an overweight rating and raised their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $377.46.

Home Depot Stock Performance

NYSE:HD opened at $344.21 on Wednesday. The business’s 50-day moving average price is $354.88 and its two-hundred day moving average price is $346.60. Home Depot has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a market cap of $341.12 billion, a P/E ratio of 23.09, a PEG ratio of 2.30 and a beta of 1.01. The company has a quick ratio of 0.40, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter last year, the firm posted $3.82 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Home Depot will post 15.3 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Trading of Home Depot

Institutional investors and hedge funds have recently modified their holdings of the business. Bare Financial Services Inc bought a new stake in shares of Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the fourth quarter worth $27,000. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter valued at about $31,000. PFG Private Wealth Management LLC grew its holdings in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot during the fourth quarter valued at about $35,000. 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.