Home Depot (NYSE:HD) Trading Down 1.3% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) traded down 1.3% during trading on Tuesday . The stock traded as low as $351.16 and last traded at $349.45. 533,280 shares were traded during trading, a decline of 83% from the average session volume of 3,194,746 shares. The stock had previously closed at $354.13.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Up 1.1 %

The firm has a fifty day moving average price of $395.36 and a 200 day moving average price of $399.08. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market cap of $351.01 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. M1 Capital Management LLC bought a new position in shares of Home Depot in the fourth quarter worth $358,000. DSG Capital Advisors LLC acquired a new stake in Home Depot in the fourth quarter valued at about $3,133,000. Chancellor Financial Group WB LP acquired a new stake in Home Depot in the fourth quarter valued at about $763,000. 111 Capital acquired a new stake in Home Depot in the fourth quarter valued at about $1,764,000. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of Home Depot by 72.6% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 95,360 shares of the home improvement retailer’s stock valued at $37,094,000 after purchasing an additional 40,095 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.