Home Depot (NYSE:HD) Downgraded to Hold Rating by Gordon Haskett

Home Depot (NYSE:HD) was downgraded by stock analysts at Gordon Haskett from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat reports.

A number of other equities research analysts have also recently commented on HD. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

Shares of HD stock opened at $353.78 on Friday. Home Depot has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $351.67 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The business has a 50-day simple moving average of $384.89 and a 200-day simple moving average of $398.25.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 EPS. On average, equities analysts expect that Home Depot will post 15.13 EPS for the current year.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after purchasing an additional 141,915 shares during the period. United Bank lifted its position in Home Depot by 4.2% in the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares during the last quarter. Morse Asset Management Inc boosted its stake in Home Depot by 12.9% during the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer’s stock worth $12,357,000 after buying an additional 3,493 shares during the period. Temasek Holdings Private Ltd increased its position in Home Depot by 24.2% during the third quarter. Temasek Holdings Private Ltd now owns 114,449 shares of the home improvement retailer’s stock valued at $46,375,000 after acquiring an additional 22,320 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Home Depot in the third quarter valued at $30,714,000. Institutional investors own 70.86% of the company’s stock.

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.