UBS Group Cuts Home Depot (NYSE:HD) Price Target to $445.00

Home Depot (NYSE:HD) had its target price trimmed by UBS Group from $475.00 to $445.00 in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the home improvement retailer’s stock.

Several other research firms have also issued reports on HD. Bank of America reduced their price target on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI cut their target price on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday. Gordon Haskett reduced their target price on Home Depot from $400.00 to $345.00 in a report on Monday, November 10th. Oppenheimer lifted their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Finally, The Goldman Sachs Group lowered their price target on Home Depot from $444.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $410.24.

Home Depot Stock Up 3.3%

Shares of NYSE HD opened at $343.22 on Wednesday. The stock has a market capitalization of $341.64 billion, a P/E ratio of 23.32, a PEG ratio of 3.59 and a beta of 1.00. The stock’s fifty day moving average is $385.34 and its 200 day moving average is $381.00. Home Depot has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same period in the prior year, the company earned $3.78 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Sell-side analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Buying and Selling

In other news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. United Bank increased its stake in shares of Home Depot by 14.9% in the first quarter. United Bank now owns 5,023 shares of the home improvement retailer’s stock valued at $1,841,000 after buying an additional 653 shares during the period. Accredited Investors Inc. raised its position in shares of Home Depot by 0.9% during the first quarter. Accredited Investors Inc. now owns 4,484 shares of the home improvement retailer’s stock worth $1,643,000 after acquiring an additional 39 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in shares of Home Depot by 6.1% in the first quarter. Beacon Investment Advisory Services Inc. now owns 84,393 shares of the home improvement retailer’s stock worth $30,929,000 after acquiring an additional 4,837 shares during the period. Finally, Efficient Advisors LLC bought a new stake in Home Depot in the first quarter valued at approximately $451,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Company Profile

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.