Home Depot (NYSE:HD) Stock Price Down 0.5% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s share price was down 0.5% during mid-day trading on Tuesday . The stock traded as low as $404.12 and last traded at $406.13. Approximately 1,862,703 shares traded hands during trading, a decline of 45% from the average daily volume of 3,365,540 shares. The stock had previously closed at $408.29.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HD shares. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $455.00 in a research report on Friday, November 8th. UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lifted their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Down 1.1 %

The business has a 50-day moving average of $397.67 and a 200-day moving average of $365.56. The stock has a market capitalization of $403.00 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 2.79 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the business posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 14.99 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WFA Asset Management Corp raised its position in shares of Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after acquiring an additional 135 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Home Depot by 5.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after acquiring an additional 623 shares in the last quarter. Brighton Jones LLC raised its position in shares of Home Depot by 1.3% during the 1st quarter. Brighton Jones LLC now owns 22,321 shares of the home improvement retailer’s stock worth $8,562,000 after acquiring an additional 286 shares in the last quarter. Great Lakes Retirement Inc. increased its position in Home Depot by 1.3% during the first quarter. Great Lakes Retirement Inc. now owns 5,498 shares of the home improvement retailer’s stock worth $2,109,000 after buying an additional 73 shares during the period. Finally, GM Advisory Group LLC increased its position in Home Depot by 1.8% during the first quarter. GM Advisory Group LLC now owns 5,169 shares of the home improvement retailer’s stock worth $1,983,000 after buying an additional 93 shares during the period. Hedge funds and other 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.