Home Depot (NYSE:HD) Stock Price Down 1.1% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares dropped 1.1% during mid-day trading on Friday . The stock traded as low as $390.56 and last traded at $390.29. Approximately 767,452 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,940,080 shares. The stock had previously closed at $394.64.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HD shares. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Thursday. Truist Financial upped their price objective on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company increased 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. Royal Bank of Canada increased their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Finally, Bank of America upped their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $433.44.

Home Depot Trading Down 2.3 %

The stock has a fifty day moving average of $402.77 and a 200 day moving average of $397.00. The company has a market capitalization of $382.81 billion, a P/E ratio of 26.18, a PEG ratio of 4.04 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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP increased its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is owned by 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.