Home Depot (NYSE:HD) Shares Up 0.7% – What’s Next?

Shares of The Home Depot, Inc. (NYSE:HD) rose 0.7% during mid-day trading on Friday . The company traded as high as $359.96 and last traded at $358.29. Approximately 1,595,858 shares changed hands during trading, a decline of 54% from the average daily volume of 3,438,051 shares. The stock had previously closed at $355.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HD shares. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

The business has a fifty day moving average of $384.89 and a 200-day moving average of $398.25. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $351.67 billion, a PE ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter 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, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Webster Bank N. A. increased its position in shares of Home Depot by 0.9% during the 1st quarter. Webster Bank N. A. now owns 19,838 shares of the home improvement retailer’s stock valued at $7,270,000 after purchasing an additional 175 shares during the last quarter. Sage Capital Advisors llc grew its holdings in shares of Home Depot by 0.9% during the 1st quarter. Sage Capital Advisors llc now owns 19,642 shares of the home improvement retailer’s stock valued at $7,199,000 after purchasing an additional 176 shares during the last quarter. Legacy Private Trust Co. raised its position in Home Depot by 21.4% in the 1st quarter. Legacy Private Trust Co. now owns 8,217 shares of the home improvement retailer’s stock worth $3,011,000 after purchasing an additional 1,450 shares during the period. Versant Capital Management Inc lifted its stake in Home Depot by 25.5% in the first quarter. Versant Capital Management Inc now owns 8,219 shares of the home improvement retailer’s stock worth $3,012,000 after purchasing an additional 1,672 shares during the last quarter. Finally, First Citizens Financial Corp boosted its position in Home Depot by 1.0% during the first quarter. First Citizens Financial Corp now owns 5,373 shares of the home improvement retailer’s stock valued at $1,969,000 after buying an additional 52 shares during the period. 70.86% of the stock is currently 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.