Home Depot (NYSE:HD) Price Target Raised to $450.00

Home Depot (NYSE:HD) had its price objective raised by TD Cowen from $410.00 to $450.00 in a research report report published on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.

Other analysts have also recently issued reports about the stock. Piper Sandler decreased their price objective on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. DA Davidson decreased their price target on Home Depot from $430.00 to $407.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Robert W. Baird cut their price objective on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. DZ Bank restated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. Finally, Bank of America lowered their target price on Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $404.50.

Home Depot Price Performance

Shares of HD stock opened at $380.84 on Tuesday. The stock’s fifty day simple moving average is $355.59 and its 200 day simple moving average is $378.34. Home Depot has a one year low of $326.31 and a one year high of $426.75. The firm has a market cap of $379.13 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 14.33 and a beta of 1.08. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, analysts expect that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,946 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 145 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the sale, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 4,963 shares of company stock worth $1,748,845. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HD. Mainstay Capital Management LLC ADV purchased a new stake in shares of Home Depot in the second quarter worth approximately $263,000. WealthPlan Investment Management LLC purchased a new stake in Home Depot in the 2nd quarter valued at $1,149,000. Tower View Wealth Management LLC raised its position in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after buying an additional 671 shares during the last quarter. Shell Asset Management Co. lifted its stake in Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after acquiring an additional 15,002 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Home Depot by 0.3% during the 2nd quarter. Boston Trust Walden Corp now owns 42,376 shares of the home improvement retailer’s stock worth $15,537,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.