Home Depot (NYSE:HD) Price Target Lowered to $418.00 at Piper Sandler

Home Depot (NYSE:HD) had its price objective cut by Piper Sandler from $435.00 to $418.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Several other brokerages also recently commented on HD. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Up 3.7 %

Shares of NYSE:HD opened at $363.97 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $361.55 billion, a PE ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. The firm has a fifty day moving average price of $393.46 and a 200 day moving average price of $399.16. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the business posted $2.82 EPS. Home Depot’s revenue was up 14.1% compared to the same quarter last year. Analysts expect that Home Depot will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SYM FINANCIAL Corp lifted its holdings in Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares during the period. Principal Financial Group Inc. grew its position in shares of Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the period. United Bank raised its position in shares of Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock valued at $1,806,000 after acquiring an additional 181 shares during the period. Algert Global LLC bought a new position in Home Depot during the 3rd quarter worth approximately $649,000. Finally, Centaurus Financial Inc. grew its holdings in Home Depot by 0.8% during the third quarter. Centaurus Financial Inc. now owns 4,453 shares of the home improvement retailer’s stock valued at $1,805,000 after purchasing an additional 35 shares during the period. Institutional investors own 70.86% of the company’s stock.

About Home Depot

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.