Home Depot (NYSE:HD) Price Target Cut to $330.00 by Analysts at Loop Capital

Home Depot (NYSE:HD) had its price objective cut by Loop Capital from $360.00 to $330.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a hold rating on the home improvement retailer’s stock.

HD has been the topic of several other research reports. Wedbush reissued an outperform rating and issued a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. Raymond James reiterated a market perform rating on shares of Home Depot in a report on Wednesday, May 15th. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the stock a buy rating in a research note on Wednesday. Truist Financial lowered their price target on Home Depot from $396.00 to $395.00 and set a buy rating for the company in a report on Wednesday. Finally, Evercore ISI reduced their price objective on shares of Home Depot from $415.00 to $400.00 and set an outperform rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $386.33.

Home Depot Trading Up 0.6 %

HD opened at $362.06 on Wednesday. The business has a fifty day moving average price of $350.74 and a 200 day moving average price of $353.23. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. Home Depot has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market capitalization of $359.02 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Home Depot will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.49%. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Trading of Home Depot

A number of institutional investors have recently modified their holdings of the business. Ruedi Wealth Management Inc. boosted its position in shares of Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares in the last quarter. Cape Investment Advisory Inc. lifted its holdings in Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares in the last quarter. Acorn Creek Capital LLC grew its stake in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the period. STAR Financial Bank increased its holdings in shares of Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after acquiring an additional 29 shares in the last quarter. Finally, Talisman Wealth Advisors LLC raised its position in shares of Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Company Profile

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.