Piper Sandler Cuts Home Depot (NYSE:HD) Price Target to $418.00

Home Depot (NYSE:HD) had its price target reduced by Piper Sandler from $435.00 to $418.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird reduced their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. 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. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

Shares of NYSE HD opened at $362.01 on Monday. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The business’s 50 day moving average price is $391.94 and its 200 day moving average price is $398.90. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $359.61 billion, a P/E ratio of 24.59, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 earnings per share. On average, sell-side analysts expect that Home Depot will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP grew its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

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.