Home Depot (NYSE:HD) Trading Down 1.3% After Analyst Downgrade

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price fell 1.3% on Thursday after Mizuho lowered their price target on the stock from $450.00 to $435.00. Mizuho currently has an outperform rating on the stock. Home Depot traded as low as $364.57 and last traded at $365.99. 767,471 shares changed hands during trading, a decline of 78% from the average session volume of 3,548,732 shares. The stock had previously closed at $370.84.

Other analysts have also recently issued reports about the stock. Robert W. Baird dropped their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday. Royal Bank of Canada decreased their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $427.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after acquiring an additional 720,447 shares during the last quarter. Geode Capital Management LLC increased its position in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV raised its holdings in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter worth about $5,032,910,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

The business's 50 day moving average price is $359.38 and its two-hundred day moving average price is $387.66. 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 cap of $363.99 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. 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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