Home Depot (NYSE:HD) Trading Down 1.2% – Time to Sell?

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.2% on Wednesday . The company traded as low as $363.35 and last traded at $363.61. Approximately 675,690 shares were traded during trading, a decline of 80% from the average daily volume of 3,313,861 shares. The stock had previously closed at $368.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HD shares. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a report 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 0.0 %

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 firm has a 50 day simple moving average of $398.19 and a 200-day simple moving average of $399.42. The stock has a market cap of $344.90 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.82 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Hedge Funds Weigh In On Home Depot

Large investors have recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the 4th quarter worth $28,000. Navigoe LLC bought a new position in Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP increased its stake 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 period. 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.