Weekly Research Analysts’ Ratings Updates for Home Depot (HD)

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

• 8/15/2024 – Home Depot was upgraded by analysts at Daiwa America to a “hold” rating.
• 8/14/2024 – Home Depot had its price target lowered by analysts at Royal Bank of Canada from $377.00 to $363.00. They now have a “sector perform” rating on the stock.
• 8/14/2024 – Home Depot had its price target lowered by analysts at Evercore ISI from $415.00 to $400.00. They now have an “outperform” rating on the stock.
• 8/14/2024 – Home Depot had its price target lowered by analysts at Loop Capital from $360.00 to $330.00. They now have a “hold” rating on the stock.
• 8/14/2024 – Home Depot had its price target lowered by analysts at Stifel Nicolaus from $380.00 to $375.00. They now have a “hold” rating on the stock.
• 8/14/2024 – Home Depot had its price target lowered by analysts at Truist Financial Co. from $396.00 to $395.00. They now have a “buy” rating on the stock.
• 8/14/2024 – Home Depot had its price target raised by analysts at UBS Group AG from $400.00 to $425.00. They now have a “buy” rating on the stock.
• 8/13/2024 – Home Depot had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $360.00 price target on the stock.
• 8/7/2024 – Home Depot had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $360.00 price target on the stock.
• 8/5/2024 – Home Depot had its price target raised by analysts at JPMorgan Chase & Co. from $377.00 to $400.00. They now have an “overweight” rating on the stock.
• 8/1/2024 – Home Depot had its price target lowered by analysts at Truist Financial Co. from $406.00 to $396.00. They now have a “buy” rating on the stock.
• 7/16/2024 – Home Depot is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $426.00 price target on the stock.
• 7/15/2024 – Home Depot had its price target raised by analysts at Stifel Nicolaus from $374.00 to $380.00. They now have a “hold” rating on the stock.
• 6/26/2024 – Home Depot was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $395.00 price target on the stock, up previously from $352.00.

Home Depot Stock Performance

NYSE HD traded up $7.63 during trading hours on Friday, reaching $372.99. The stock had a trading volume of 956,162 shares, compared to its average volume of 3,431,458. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The stock has a market cap of $369.86 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The stock has a fifty day moving average of $352.87 and a 200 day moving average of $353.52. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last announced its quarterly 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. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently modified their holdings of HD. Fairway Wealth LLC purchased a new position in shares of Home Depot during the 2nd quarter worth $25,000. Bare Financial Services Inc acquired a new stake in shares of Home Depot in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at $27,000. Kings Path Partners LLC acquired a new position in Home Depot during the 2nd quarter worth about $33,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Home Depot in the fourth quarter valued at approximately $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.