Truist Financial Cuts Home Depot (NYSE:HD) Price Target to $394.00

Home Depot (NYSE:HD) had its target price lowered by Truist Financial from $424.00 to $394.00 in a report published on Wednesday, MarketBeat.com reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

A number of other research firms have also weighed in on HD. Telsey Advisory Group reissued an “outperform” rating and issued a $435.00 price objective on shares of Home Depot in a research report on Wednesday, March 25th. Piper Sandler reduced their price objective on shares of Home Depot from $441.00 to $422.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. Sanford C. Bernstein increased their price objective on shares of Home Depot from $381.00 to $390.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Gordon Haskett reduced their price objective on shares of Home Depot from $395.00 to $330.00 in a research report on Friday, May 8th. Finally, Daiwa Securities Group increased their price objective on shares of Home Depot from $360.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Twenty research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.66.

Home Depot Stock Down 2.3%

Shares of NYSE:HD opened at $297.34 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62. Home Depot has a 12 month low of $296.88 and a 12 month high of $426.75. The company has a 50-day moving average price of $331.77 and a 200 day moving average price of $354.39. The company has a market cap of $296.16 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.51 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The firm had revenue of $38.20 billion during the quarter, compared to the consensus estimate of $38.01 billion. During the same quarter last year, the firm earned $3.13 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. As a group, equities research analysts predict that Home Depot will post 15.03 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Home Depot’s previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. Home Depot’s dividend payout ratio is 65.50%.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total transaction of $940,669.50. Following the transaction, the chief financial officer directly owned 44,566 shares of the company’s stock, valued at approximately $16,439,951.74. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently modified their holdings of the stock. Advocate Investing Services LLC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $25,000. Parvin Asset Management LLC increased its position in shares of Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 33 shares during the period. Cache Advisors LLC purchased a new position in shares of Home Depot during the first quarter worth approximately $27,000. Key Capital Management INC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in shares of Home Depot during the first quarter worth approximately $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot News Summary

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Telsey Advisory reiterated a Buy rating on Home Depot, suggesting at least one Wall Street firm still sees value in the shares despite recent volatility.
• Positive Sentiment: Some commentary has highlighted Home Depot as a potential beneficiary if housing turnover and mortgage-rate conditions improve, which could support future sales and earnings.
• Neutral Sentiment: Investors are watching Home Depot closely ahead of earnings on May 19, with articles focusing on whether pro demand, digital tools, and repair projects can offset a weaker housing backdrop.
• Neutral Sentiment: Jim Cramer said Home Depot can perform well in a lower-rate environment, but also noted the stock needs stronger housing turnover to really accelerate.
• Negative Sentiment: Sanford C. Bernstein cut its price target on Home Depot to $365 from $390 and kept a Market Perform rating, reflecting a more cautious view on near-term upside.
• Negative Sentiment: A new class-action lawsuit reportedly pressured the stock, adding legal uncertainty at an already sensitive time for investors.
• Negative Sentiment: Recent pre-earnings pullback and broader worries about housing turnover have also weighed on sentiment, helping explain why Home Depot stock has been moving lower.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.