Home Depot (NYSE:HD) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Home Depot (NYSE:HD – Free Report) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other brokerages have also commented on HD. Morgan Stanley dropped their price target on Home Depot from $430.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. Robert W. Baird lowered their target price on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. DA Davidson set a $430.00 price target on shares of Home Depot in a research report on Wednesday, November 19th. Telsey Advisory Group decreased their price objective on shares of Home Depot from $455.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home Depot in a research report on Tuesday, November 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.60.

Check Out Our Latest Analysis on HD

Home Depot Stock Up 0.4%

HD opened at $356.98 on Friday. Home Depot has a fifty-two week low of $326.31 and a fifty-two week high of $436.36. The firm has a market capitalization of $355.37 billion, a P/E ratio of 24.25, a PEG ratio of 3.59 and a beta of 1.00. The company’s 50-day moving average is $378.59 and its 200 day moving average is $380.64. 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 (NYSE:HD – Get Free Report) last issued its quarterly earnings data 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 return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. During the same period in the previous year, the company posted $3.78 earnings per share. The company’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. Research analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Buying and Selling

In related news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently made changes to their positions in HD. Norges Bank purchased a new stake in shares of Home Depot in the second quarter worth about $4,885,603,000. Laurel Wealth Advisors LLC increased its holdings in Home Depot by 36,207.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after acquiring an additional 10,049,029 shares during the period. Nuveen LLC purchased a new stake in Home Depot in the 1st quarter worth approximately $2,076,592,000. Valeo Financial Advisors LLC lifted its stake in Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after purchasing an additional 4,510,944 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after purchasing an additional 3,836,051 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Company Profile

(Get Free Report)

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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