StockNews.com Downgrades Home Depot (NYSE:HD) to Hold

Home Depot (NYSE:HD - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

Other equities analysts have also issued research reports about the company. Mizuho initiated coverage on Home Depot in a research note on Tuesday, March 19th. They issued a "buy" rating and a $415.00 price target on the stock. Citigroup upped their price target on shares of Home Depot from $333.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Truist Financial reissued a "buy" rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Bank of America lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Finally, Telsey Advisory Group upped their target price on Home Depot from $335.00 to $360.00 and gave the company a "market perform" rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.96.

Home Depot Stock Performance

NYSE:HD traded up $7.50 during mid-day trading on Friday, hitting $343.03. The stock had a trading volume of 4,164,367 shares, compared to its average volume of 3,349,842. The company's 50 day simple moving average is $362.33 and its 200 day simple moving average is $341.76. The stock has a market cap of $339.95 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.21 and a beta of 1.01. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. Home Depot has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 EPS. Home Depot's quarterly revenue was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Home Depot will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company's stock, valued at $27,950,123.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company's stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HD. Robeco Institutional Asset Management B.V. boosted its holdings in Home Depot by 3.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 449,403 shares of the home improvement retailer's stock worth $135,792,000 after acquiring an additional 14,178 shares in the last quarter. Xponance Inc. grew its position in Home Depot by 0.5% during the 3rd quarter. Xponance Inc. now owns 240,310 shares of the home improvement retailer's stock valued at $72,612,000 after purchasing an additional 1,279 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in Home Depot by 0.7% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 12,577 shares of the home improvement retailer's stock valued at $3,800,000 after purchasing an additional 82 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Home Depot by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 148,341 shares of the home improvement retailer's stock worth $44,823,000 after buying an additional 569 shares during the last quarter. Finally, Ledge Wealth Management Inc. lifted its stake in shares of Home Depot by 10.5% in the third quarter. Ledge Wealth Management Inc. now owns 5,993 shares of the home improvement retailer's stock worth $1,811,000 after buying an additional 571 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

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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