Home Depot (NYSE:HD) Trading Up 1.1% After Analyst Upgrade

by · The Cerbat Gem

The Home Depot, Inc. (NYSE:HD – Get Free Report) shares were up 1.1% during trading on Wednesday after Daiwa Capital Markets raised their price target on the stock from $348.00 to $360.00. Daiwa Capital Markets currently has a neutral rating on the stock. Home Depot traded as high as $357.50 and last traded at $356.6450. Approximately 3,314,309 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 3,662,852 shares. The stock had previously closed at $352.68.

HD has been the topic of a number of other reports. Morgan Stanley reiterated an “outperform” rating on shares of Home Depot in a report on Wednesday, December 10th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $400.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. DA Davidson dropped their price objective on shares of Home Depot from $430.00 to $407.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Wall Street Zen downgraded shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Stifel Nicolaus lowered their target price on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a report on Monday, December 1st. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $402.07.

Get Our Latest Analysis on HD

Insider Activity

In other Home Depot news, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total transaction of $51,947.70. Following the completion of the sale, the executive vice president owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Lindenwold Advisors INC raised its stake in shares of Home Depot by 1.0% during the 3rd quarter. Lindenwold Advisors INC now owns 5,729 shares of the home improvement retailer’s stock worth $2,321,000 after purchasing an additional 54 shares during the period. Harbour Investment Management LLC purchased a new stake in Home Depot during the third quarter worth about $214,000. Farmers National Bank raised its position in Home Depot by 1.1% in the third quarter. Farmers National Bank now owns 23,667 shares of the home improvement retailer’s stock worth $9,590,000 after acquiring an additional 250 shares during the period. Hudson Bay Capital Management LP raised its position in Home Depot by 42.5% in the third quarter. Hudson Bay Capital Management LP now owns 79,713 shares of the home improvement retailer’s stock worth $32,299,000 after acquiring an additional 23,780 shares during the period. Finally, Painted Porch Advisors LLC lifted its stake in Home Depot by 16.6% in the third quarter. Painted Porch Advisors LLC now owns 373 shares of the home improvement retailer’s stock valued at $151,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The stock has a market cap of $355.04 billion, a PE ratio of 24.31, a PEG ratio of 13.30 and a beta of 1.06. The business has a 50-day moving average price of $367.01 and a 200 day moving average price of $379.19.

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 the consensus estimate of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

About Home Depot

(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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