Home Depot (NYSE:HD) Trading Down 0.5% Following Analyst Downgrade

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) dropped 0.5% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $450.00 to $410.00. Morgan Stanley currently has an overweight rating on the stock. Home Depot traded as low as $359.73 and last traded at $362.72. Approximately 909,288 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,447,587 shares. The stock had previously closed at $364.52.

HD has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, HSBC raised Home Depot from a "reduce" rating to a "hold" rating and upped their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $432.54.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the fourth quarter valued at about $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter valued at about $29,000. Abound Financial LLC acquired a new stake in Home Depot in the first quarter worth about $31,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth about $32,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.5 %

The company has a market capitalization of $360.67 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business's 50 day moving average price is $360.97 and its two-hundred day moving average price is $390.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. 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. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.