Home Depot (NYSE:HD) Stock Price Up 0.3% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) rose 0.3% during mid-day trading on Thursday . The company traded as high as $365.09 and last traded at $363.23. Approximately 777,786 shares changed hands during trading, a decline of 78% from the average daily volume of 3,501,974 shares. The stock had previously closed at $362.13.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HD. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Up 0.2 %

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 firm has a market capitalization of $360.52 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average price of $391.94 and a 200 day moving average price of $398.90.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current 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 issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Finally, Quarry LP raised its holdings in shares of 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 period. 70.86% of the stock is currently 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.