HSBC Cuts Home Depot (NYSE:HD) Price Target to $400.00

by · The Markets Daily

Home Depot (NYSE:HD – Free Report) had its price objective trimmed by HSBC from $445.00 to $400.00 in a report released on Wednesday morning,MarketScreener reports. The brokerage currently has a hold rating on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Mizuho lifted their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $370.00 price objective (down from $440.00) on shares of Home Depot in a research report on Friday, November 14th. Truist Financial set a $379.00 target price on shares of Home Depot in a research note on Tuesday. Oppenheimer raised their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Finally, Bank of America lowered their price objective on Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $410.24.

View Our Latest Research Report on Home Depot

Home Depot Trading Up 3.3%

HD opened at $343.22 on Wednesday. The business has a fifty day moving average price of $385.34 and a 200 day moving average price of $381.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. Home Depot has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market capitalization of $341.64 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. During the same period in the prior year, the business earned $3.78 EPS. Home Depot’s revenue for the quarter was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Sell-side analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, December 4th. Home Depot’s dividend payout ratio is currently 62.71%.

Insider Activity

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of large investors have recently made changes to their positions in HD. Mainstay Capital Management LLC ADV acquired a new stake in Home Depot during the 2nd quarter worth approximately $263,000. WealthPlan Investment Management LLC purchased a new stake in shares of Home Depot during the second quarter worth approximately $1,149,000. Tower View Wealth Management LLC lifted its holdings in shares of Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd purchased a new position in Home Depot in the 1st quarter valued at $3,851,000. Finally, Shell Asset Management Co. increased its stake in Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after buying an additional 15,002 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

About Home Depot

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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.

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