Home Depot (NYSE:HD) Given New $430.00 Price Target at Robert W. Baird

Home Depot (NYSE:HD) had its target price trimmed by Robert W. Baird from $440.00 to $430.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial dropped their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the stock from $356.00 to $410.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

Shares of Home Depot stock opened at $390.40 on Wednesday. The firm has a market cap of $387.81 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The business’s fifty day simple moving average is $401.17 and its 200-day simple moving average is $398.42.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts forecast 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. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.14%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC grew its holdings in Home Depot by 1.2% in the fourth 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 last quarter. Norges Bank purchased a new position in shares of Home Depot in the fourth quarter valued at $5,032,910,000. Capital Research Global Investors raised its stake in shares of Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.