Home Depot (NYSE:HD) Shares Down 1.9% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares fell 1.9% during mid-day trading on Wednesday . The company traded as low as $394.48 and last traded at $395.84. Approximately 889,315 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 2,924,125 shares. The stock had previously closed at $403.31.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HD shares. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Stifel Nicolaus upped their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

Home Depot Stock Down 1.9 %

The firm has a fifty day moving average price of $403.70 and a 200 day moving average price of $397.03. The firm has a market capitalization of $392.91 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 4.18 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently made changes to their positions in the stock. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $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 valued at $37,000 after buying an additional 66 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.