Home Depot (NYSE:HD) Stock Price Down 1.6% – Time to Sell?

The Home Depot, Inc. (NYSE:HD)’s stock price was down 1.6% on Tuesday . The company traded as low as $396.21 and last traded at $400.04. Approximately 1,547,011 shares changed hands during trading, a decline of 54% from the average daily volume of 3,360,644 shares. The stock had previously closed at $406.40.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HD shares. Royal Bank of Canada dropped their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Truist Financial upped their price target on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Stock Down 1.2 %

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a market capitalization of $398.13 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The business’s 50 day simple moving average is $386.31 and its 200 day simple moving average is $358.83.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Trading of Home Depot

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in shares of Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after buying an additional 138,396 shares during the last quarter. Jennison Associates LLC increased its holdings in Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after buying an additional 569,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Home Depot by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after buying an additional 333,312 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.