Home Depot (NYSE:HD) Stock Price Down 1.4% on Analyst Downgrade

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.4% during mid-day trading on Monday after Oppenheimer lowered their price target on the stock from $420.00 to $405.00. Oppenheimer currently has a market perform rating on the stock. Home Depot traded as low as $345.70 and last traded at $349.5440. Approximately 6,981,471 shares were traded during trading, an increase of 92% from the average daily volume of 3,629,938 shares. The stock had previously closed at $354.61.

Other analysts also recently issued research reports about the stock. DA Davidson set a $430.00 price objective on shares of Home Depot in a report on Wednesday, November 19th. Stifel Nicolaus cut their price target on Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a report on Monday, December 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $362.00 price objective on shares of Home Depot in a research report on Monday, November 24th. Argus lowered their price objective on Home Depot from $450.00 to $425.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Robert W. Baird dropped their target price on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $403.50.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Home Depot by 0.3% in the third quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock valued at $39,834,241,000 after acquiring an additional 331,217 shares in the last quarter. State Street Corp grew its holdings in Home Depot by 0.7% during the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after acquiring an additional 300,352 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after purchasing an additional 327,674 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after purchasing an additional 153,582 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Home Depot in the 2nd quarter valued at $4,885,603,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.4%

The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The company’s 50-day moving average price is $373.06 and its 200-day moving average price is $379.85. The firm has a market capitalization of $347.97 billion, a PE ratio of 23.83, a PEG ratio of 6.25 and a beta of 1.06.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, December 4th. Home Depot’s dividend payout ratio is currently 62.71%.

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.