Truist Financial Issues Pessimistic Forecast for Home Depot (NYSE:HD) Stock Price

Home Depot (NYSE:HD) had its price target cut by Truist Financial from $467.00 to $437.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

Several other research analysts have also recently issued reports on HD. Bank of America increased their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Stifel Nicolaus increased their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, 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 report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Up 1.6 %

NYSE:HD opened at $396.69 on Wednesday. The company has a market cap of $394.06 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a fifty day simple moving average of $401.36 and a 200-day simple moving average of $398.72.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. Analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.32%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new stake in Home Depot during the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at $32,000. Finally, Quarry LP increased its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

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.