Home Depot (NYSE:HD) Earns Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of Home Depot (NYSE:HD) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $417.00 target price on the home improvement retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their price objective on shares of Home Depot from $299.00 to $377.00 and gave the company a sector perform rating in a research note on Monday, February 26th. DA Davidson restated a neutral rating and set a $370.00 price target on shares of Home Depot in a research report on Monday, April 1st. Barclays upgraded Home Depot from an equal weight rating to an overweight rating and lifted their price objective for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Evercore ISI dropped their target price on Home Depot from $420.00 to $415.00 and set an outperform rating for the company in a report on Tuesday. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $370.00 price target on shares of Home Depot in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $375.96.

Home Depot Stock Up 0.7 %

HD opened at $335.36 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The business’s fifty day simple moving average is $367.36 and its 200 day simple moving average is $339.21. Home Depot has a 52 week low of $274.26 and a 52 week high of $396.87. The stock has a market cap of $332.35 billion, a PE ratio of 22.21, a P/E/G ratio of 2.22 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 EPS. As a group, research analysts expect that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.68%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Insider Activity

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

Institutional Trading of Home Depot

Several institutional investors have recently bought and sold shares of HD. Maryland State Retirement & Pension System raised its holdings in Home Depot by 0.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 78,232 shares of the home improvement retailer’s stock worth $30,010,000 after acquiring an additional 423 shares during the last quarter. Cohen Investment Advisors LLC increased its holdings in shares of Home Depot by 10.4% in the 1st quarter. Cohen Investment Advisors LLC now owns 9,451 shares of the home improvement retailer’s stock worth $3,625,000 after purchasing an additional 888 shares in the last quarter. Veracity Capital LLC raised its stake in shares of Home Depot by 74.8% in the first quarter. Veracity Capital LLC now owns 4,564 shares of the home improvement retailer’s stock worth $1,751,000 after purchasing an additional 1,953 shares during the last quarter. Willis Johnson & Associates Inc. lifted its holdings in shares of Home Depot by 22.6% during the first quarter. Willis Johnson & Associates Inc. now owns 1,474 shares of the home improvement retailer’s stock valued at $565,000 after purchasing an additional 272 shares in the last quarter. Finally, Marshall Financial Group LLC boosted its position in shares of Home Depot by 1.5% during the first quarter. Marshall Financial Group LLC now owns 2,610 shares of the home improvement retailer’s stock valued at $1,001,000 after buying an additional 38 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other 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.