Home Depot (NYSE:HD) Trading Down 0.1% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded down 0.1% during trading on Friday . The stock traded as low as $402.90 and last traded at $405.18. 645,641 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,369,880 shares. The stock had previously closed at $405.72.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. DA Davidson lifted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.33 and a debt-to-equity ratio of 8.65. The company has a market cap of $404.91 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a fifty day moving average price of $398.55 and a two-hundred day moving average price of $365.84.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period last year, the firm posted $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.06 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. Home Depot’s dividend payout ratio is presently 61.14%.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter worth about $33,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 3rd quarter valued at $46,000. Denver PWM LLC bought a new stake in Home Depot in the second quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC increased its stake in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

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.