Recent Investment Analysts’ Ratings Changes for Home Depot (HD)

Posted by KOP Source Staff on May 2nd, 2024

Several brokerages have updated their recommendations and price targets on shares of Home Depot (NYSE: HD) in the last few weeks:

4/24/2024 – Home Depot was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
4/17/2024 – Home Depot had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $417.00 price target on the stock.
4/16/2024 – Home Depot had its price target lowered by analysts at Evercore ISI from $420.00 to $415.00. They now have an “outperform” rating on the stock.
4/16/2024 – Home Depot was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
4/8/2024 – Home Depot was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
4/5/2024 – Home Depot had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $390.00 price target on the stock.
4/3/2024 – Home Depot had its “reduce” rating reaffirmed by analysts at HSBC Holdings plc. They now have a $323.00 price target on the stock.
4/2/2024 – Home Depot was upgraded by analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating.
4/2/2024 – Home Depot had its price target raised by analysts at Evercore ISI from $420.00 to $425.00. They now have an “outperform” rating on the stock.
4/1/2024 – Home Depot had its price target raised by analysts at Wedbush from $380.00 to $410.00. They now have an “outperform” rating on the stock.
4/1/2024 – Home Depot had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $370.00 price target on the stock.
4/1/2024 – Home Depot had its price target raised by analysts at Telsey Advisory Group from $335.00 to $360.00. They now have a “market perform” rating on the stock.
4/1/2024 – Home Depot had its price target raised by analysts at Truist Financial Co. from $386.00 to $417.00. They now have a “buy” rating on the stock.
4/1/2024 – Home Depot had its price target raised by analysts at Bank of America Co. from $400.00 to $425.00. They now have a “buy” rating on the stock.
3/29/2024 – Home Depot was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
3/26/2024 – Home Depot had its price target raised by analysts at Evercore ISI from $410.00 to $420.00. They now have an “outperform” rating on the stock.
3/20/2024 – Home Depot was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
3/19/2024 – Home Depot is now covered by analysts at Mizuho. They set a “buy” rating and a $415.00 price target on the stock.
3/4/2024 – Home Depot had its price target raised by analysts at TD Cowen from $415.00 to $440.00. They now have an “outperform” rating on the stock.

Home Depot Stock Up 0.9 %

Shares of Home Depot stock traded up $3.02 during trading hours on Thursday, reaching $334.99. 1,399,040 shares of the company’s stock were exchanged, compared to its average volume of 3,317,912. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a 50 day moving average of $363.04 and a two-hundred day moving average of $341.81. The stock has a market cap of $331.98 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.23 and a beta of 1.01. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD – Get Free Report) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $3.30 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s payout ratio is presently 59.60%.

Insider Buying and Selling at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Home Depot in the 4th quarter valued at $4,311,070,000. International Assets Investment Management LLC boosted its stake in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares in the last quarter. Jennison Associates LLC grew its position in Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares during the last quarter. Capital Research Global Investors raised its stake in Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Home Depot in the third quarter worth about $207,210,000. Institutional investors own 70.86% of the company’s stock.

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.