Home Depot (NYSE:HD) PT Lowered to $415.00 at Evercore ISI

Home Depot (NYSE:HD) had its price target cut by Evercore ISI from $420.00 to $415.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Robert W. Baird reissued an outperform rating and issued a $370.00 price target on shares of Home Depot in a report on Wednesday, February 14th. Royal Bank of Canada increased their target price on Home Depot from $299.00 to $377.00 and gave the company a sector perform rating in a research note on Monday, February 26th. Wedbush lifted their price target on shares of Home Depot from $380.00 to $410.00 and gave the stock an outperform rating in a research note on Monday, April 1st. Barclays upgraded shares of Home Depot from an equal weight rating to an overweight rating and increased their price objective for the company from $325.00 to $372.00 in a research note on Thursday, January 4th. Finally, Telsey Advisory Group boosted their target price on shares of Home Depot from $335.00 to $360.00 and gave the stock a market perform rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $375.96.

Home Depot Stock Performance

Shares of NYSE:HD opened at $335.36 on Tuesday. The company has a market cap of $332.35 billion, a P/E ratio of 22.21, a PEG ratio of 2.22 and a beta of 0.98. Home Depot has a one year low of $274.26 and a one year high of $396.87. The business’s 50-day simple moving average is $367.36 and its 200 day simple moving average is $339.21. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. On average, sell-side analysts forecast that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. Home Depot’s payout ratio is currently 59.60%.

Insider Activity at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s 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 approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction 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 $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently modified their holdings of the company. BCK Partners Inc. acquired a new stake in Home Depot during the first quarter valued at approximately $2,933,000. Fairfield Bush & CO. bought a new position in shares of Home Depot in the first quarter valued at $27,000. Ergoteles LLC acquired a new stake in shares of Home Depot during the 1st quarter valued at $1,554,000. Equitable Holdings Inc. boosted its stake in shares of Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after acquiring an additional 24,640 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.