Home Depot (NYSE:HD) Price Target Cut to $332.00

Home Depot (NYSE:HD – Get Rating) had its price target cut by Citigroup from $340.00 to $332.00 in a research report report published on Wednesday, The Fly reports. They currently have a buy rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently weighed in on the company. Cowen boosted their price target on Home Depot from $350.00 to $379.00 and gave the stock an outperform rating in a report on Tuesday, December 13th. Truist Financial cut their price target on Home Depot from $400.00 to $382.00 and set a buy rating for the company in a report on Wednesday, November 16th. Telsey Advisory Group cut their price target on Home Depot from $375.00 to $360.00 and set an outperform rating for the company in a report on Thursday, February 16th. Robert W. Baird cut their price target on Home Depot from $360.00 to $340.00 and set an outperform rating for the company in a report on Tuesday. Finally, MKM Partners dropped their target price on Home Depot from $330.00 to $312.00 in a research note on Wednesday, November 9th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $331.45.

Home Depot Stock Up 0.3 %

HD opened at $296.30 on Wednesday. The business’s fifty day moving average is $319.73 and its two-hundred day moving average is $306.13. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39. The company has a market cap of $303.33 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.65 and a beta of 0.93. Home Depot has a one year low of $264.51 and a one year high of $347.25.

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Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.04. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. The company had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $36 billion. During the same period in the previous year, the business earned $3.21 earnings per share. Home Depot’s quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate that Home Depot will post 16.64 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be given a $2.09 dividend. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $8.36 annualized dividend and a dividend yield of 2.82%. Home Depot’s dividend payout ratio is presently 45.81%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Teamwork Financial Advisors LLC boosted its holdings in Home Depot by 1.4% in the fourth quarter. Teamwork Financial Advisors LLC now owns 2,309 shares of the home improvement retailer’s stock valued at $729,000 after purchasing an additional 31 shares during the last quarter. Retirement Planning Co of New England Inc. boosted its holdings in Home Depot by 0.5% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 5,769 shares of the home improvement retailer’s stock valued at $1,822,000 after purchasing an additional 31 shares during the last quarter. Summit Asset Management LLC boosted its holdings in Home Depot by 0.9% in the fourth quarter. Summit Asset Management LLC now owns 3,491 shares of the home improvement retailer’s stock valued at $1,103,000 after purchasing an additional 31 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in Home Depot by 0.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 5,794 shares of the home improvement retailer’s stock valued at $1,830,000 after purchasing an additional 32 shares during the last quarter. Finally, Monterey Private Wealth Inc. boosted its holdings in Home Depot by 2.2% in the fourth quarter. Monterey Private Wealth Inc. now owns 1,495 shares of the home improvement retailer’s stock valued at $472,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.