Home Depot (NYSE:HD) Price Target Cut to $225.00 by Analysts at Morgan Stanley

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Home Depot (NYSE:HD) had its price target decreased by Morgan Stanley from $235.00 to $225.00 in a research report released on Wednesday, The Fly reports. Morgan Stanley currently has an overweight rating on the home improvement retailer’s stock.

Several other research firms also recently commented on HD. UBS Group lifted their price objective on Home Depot from $215.00 to $240.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Nomura assumed coverage on shares of Home Depot in a report on Friday, November 8th. They set a neutral rating and a $240.00 price target on the stock. Bank of America reiterated a hold rating and issued a $235.00 price target on shares of Home Depot in a research note on Wednesday, November 20th. Argus set a $240.00 price target on shares of Home Depot and gave the stock a buy rating in a research note on Wednesday, August 21st. Finally, Longbow Research restated a buy rating and set a $255.00 price objective on shares of Home Depot in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $235.31.

Shares of Home Depot stock traded down $0.15 on Wednesday, reaching $211.85. The company’s stock had a trading volume of 3,712,335 shares, compared to its average volume of 5,693,217. The company has a market capitalization of $236.20 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.03 and a beta of 1.00. The firm’s fifty day simple moving average is $227.13 and its two-hundred day simple moving average is $218.70. Home Depot has a 52 week low of $158.09 and a 52 week high of $239.31.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 19th. The home improvement retailer reported $2.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.53. The firm had revenue of $27.22 billion during the quarter, compared to analysts’ expectations of $27.51 billion. Home Depot had a negative return on equity of 721.00% and a net margin of 10.01%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 earnings per share. As a group, analysts expect that Home Depot will post 10.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.44 dividend on an annualized basis and a yield of 2.57%. Home Depot’s dividend payout ratio is currently 55.01%.

A number of large investors have recently added to or reduced their stakes in HD. Enterprise Trust & Investment Co bought a new position in shares of Home Depot in the third quarter worth about $27,000. Krane Funds Advisors LLC bought a new position in shares of Home Depot in the second quarter worth about $25,000. Julex Capital Management LLC bought a new position in shares of Home Depot in the third quarter worth about $29,000. Proffitt & Goodson Inc. raised its stake in shares of Home Depot by 106.2% in the third quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after buying an additional 69 shares during the period. Finally, Financial Advantage Inc. bought a new position in shares of Home Depot in the third quarter worth about $37,000. 69.92% of the stock is owned by institutional investors and hedge funds.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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