The Home Depot, Inc. (NYSE:HD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The Home Depot, Inc. (NYSE:HD) has been assigned an average recommendation of “Moderate Buy” from the thirty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $436.50.

HD has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth about $28,000. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth about $32,000. Finally, Quarry LP grew its position in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.6 %

Shares of Home Depot stock opened at $368.49 on Wednesday. The company has a fifty day moving average price of $399.50 and a 200 day moving average price of $400.03. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a market cap of $366.04 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The firm 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 dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot’s dividend payout ratio is 61.66%.

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.