Home Depot (NYSE:HD) Price Target Cut to $348.00 by Analysts at Daiwa Capital Markets

Home Depot (NYSE:HD) had its target price decreased by Daiwa Capital Markets from $399.00 to $348.00 in a research note released on Monday,MarketScreener reports. Daiwa Capital Markets currently has a neutral rating on the home improvement retailer’s stock.

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein reiterated a “market perform” rating and issued a $362.00 target price on shares of Home Depot in a research note on Monday. Oppenheimer lifted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. BNP Paribas Exane reduced their price objective on shares of Home Depot from $391.00 to $353.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Home Depot in a research report on Wednesday, November 19th. Finally, Evercore ISI cut their price target on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $404.60.

Home Depot Trading Up 2.6%

Home Depot stock traded up $8.74 during mid-day trading on Monday, hitting $345.32. The company’s stock had a trading volume of 566,924 shares, compared to its average volume of 3,568,876. The stock has a market cap of $343.73 billion, a PE ratio of 23.43, a P/E/G ratio of 3.59 and a beta of 1.00. Home Depot has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The company has a 50 day moving average of $383.62 and a 200-day moving average of $381.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, research analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Insider Buying and Selling at Home Depot

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

Institutional Trading of Home Depot

Several large investors have recently added to or reduced their stakes in the company. Parvin Asset Management LLC lifted its stake in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 33 shares during the period. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot during the second quarter worth $28,000. Financially Speaking Inc acquired a new position in Home Depot during the third quarter valued at $31,000. Sagard Holdings Management Inc. purchased a new stake in Home Depot in the second quarter valued at $29,000. Finally, Imprint Wealth LLC acquired a new stake in Home Depot during the 3rd quarter worth about $34,000. Hedge funds and other 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.