Home Depot (NYSE:HD) Stock Price Up 0.1% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0.1% during trading on Wednesday . The stock traded as high as $384.04 and last traded at $382.07. 565,071 shares changed hands during trading, a decline of 83% from the average session volume of 3,247,554 shares. The stock had previously closed at $381.68.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

The company has a 50-day moving average of $400.54 and a 200 day moving average of $399.49. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market cap of $374.16 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the business earned $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. Home Depot’s payout ratio is 61.66%.

Institutional Trading of Home Depot

Hedge funds have recently modified their holdings of the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter worth about $32,000. Finally, Quarry LP grew its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.