Evercore ISI Trims Home Depot (NYSE:HD) Target Price to $415.00

Home Depot (NYSE:HD) had its target price reduced by Evercore ISI from $420.00 to $415.00 in a report issued on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada lifted their price target on Home Depot from $299.00 to $377.00 and gave the stock a sector perform rating in a report on Monday, February 26th. Robert W. Baird reiterated an outperform rating and set a $370.00 price target on shares of Home Depot in a report on Wednesday, February 14th. Guggenheim reiterated a buy rating and set a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. Barclays upgraded Home Depot from an equal weight rating to an overweight rating and lifted their price target for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Finally, DA Davidson reiterated a neutral rating and set a $370.00 price target on shares of Home Depot in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of Moderate Buy and an average price target of $375.96.

Home Depot Price Performance

Shares of NYSE HD opened at $332.89 on Tuesday. The stock has a market capitalization of $329.90 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.23 and a beta of 0.98. The business has a 50-day moving average of $367.92 and a 200-day moving average of $338.97. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 EPS. As a group, sell-side analysts predict that Home Depot will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on 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 owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Congress Wealth Management LLC DE grew its stake in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after purchasing an additional 3,162 shares during the last quarter. Wolf Group Capital Advisors boosted its position in Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the last quarter. Alliance Wealth Management Group bought a new stake in Home Depot during the fourth quarter valued at $253,000. Psagot Value Holdings Ltd. Israel boosted its position in Home Depot by 8.0% during the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the last quarter. Finally, Zullo Investment Group Inc. boosted its position in Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after acquiring an additional 504 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.