Truist Financial Cuts Home Depot (NYSE:HD) Price Target to $395.00

Home Depot (NYSE:HD) had its target price decreased by Truist Financial from $396.00 to $395.00 in a report published on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a buy rating and a $426.00 target price for the company. TD Cowen dropped their price objective on shares of Home Depot from $440.00 to $420.00 and set a buy rating for the company in a research report on Wednesday, May 15th. HSBC dropped their price objective on shares of Home Depot from $323.00 to $318.00 and set a reduce rating for the company in a research report on Wednesday, May 15th. StockNews.com cut shares of Home Depot from a buy rating to a hold rating in a research report on Saturday, May 25th. Finally, Stifel Nicolaus dropped their price objective on shares of Home Depot from $380.00 to $375.00 and set a hold rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of Moderate Buy and a consensus price target of $386.33.

Home Depot Stock Performance

NYSE:HD opened at $362.06 on Wednesday. Home Depot has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a 50 day moving average of $350.74 and a 200-day moving average of $353.23. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market capitalization of $359.02 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Home Depot will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Ruedi Wealth Management Inc. raised its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Home Depot by 1.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after acquiring an additional 28 shares during the period. Acorn Creek Capital LLC raised its stake in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the period. STAR Financial Bank raised its stake in shares of Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after acquiring an additional 29 shares during the period. Finally, Talisman Wealth Advisors LLC raised its stake in shares of Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after acquiring an additional 29 shares during the period. 70.86% of the stock is owned by institutional investors.

About Home Depot

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.