Home Depot (NYSE:HD) Trading Down 0.4% After Analyst Downgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price was down 0.4% on Friday after Wells Fargo & Company lowered their price target on the stock from $445.00 to $420.00. Wells Fargo & Company currently has an overweight rating on the stock. Home Depot traded as low as $361.50 and last traded at $363.25. Approximately 502,826 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,436,676 shares. The stock had previously closed at $364.86.

HD has been the subject of a number of other reports. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on Home Depot from $450.00 to $410.00 and set an "overweight" rating for the company in a research note on Monday. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $430.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC bought a new position in shares of Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth about $32,000. Finally, Abound Financial LLC acquired a new stake in Home Depot in the first quarter valued at approximately $31,000. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

The company has a market capitalization of $361.51 billion, a P/E ratio of 24.71, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a fifty day moving average price of $358.61 and a two-hundred day moving average price of $389.10.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 EPS. The business's revenue was up 14.1% compared to the same quarter last year. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

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.

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