Evercore ISI Lowers Home Depot (NYSE:HD) Price Target to $400.00

Home Depot (NYSE:HD) had its price target trimmed by Evercore ISI from $415.00 to $400.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Several other equities analysts have also recently issued reports on the company. Telsey Advisory Group restated a market perform rating and set a $360.00 price objective on shares of Home Depot in a research note on Tuesday, August 13th. StockNews.com cut Home Depot from a buy rating to a hold rating in a research note on Saturday, May 25th. UBS Group reduced their price objective on Home Depot from $411.00 to $400.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Raymond James restated a market perform rating on shares of Home Depot in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They set a buy rating and a $426.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has an average rating of Moderate Buy and an average target price of $386.33.

Home Depot Stock Performance

Shares of HD opened at $362.06 on Wednesday. The business’s 50 day moving average is $350.74 and its two-hundred day moving average is $353.23. Home Depot has a 52-week low of $274.26 and a 52-week high of $396.87. The firm has a market cap of $359.02 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.48 and a beta of 0.98. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last announced 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 return on equity of 1,056.67% and a net margin of 9.79%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the company posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that Home Depot will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Bare Financial Services Inc acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot in the 1st quarter valued at $38,000. 70.86% of the stock is 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.