Home Depot (NYSE:HD) Stock Price Up 0.8% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares rose 0.8% during trading on Monday . The company traded as high as $393.51 and last traded at $392.45. Approximately 927,976 shares traded hands during trading, a decline of 49% from the average daily volume of 1,819,538 shares. The stock had previously closed at $389.18.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen boosted their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Guggenheim raised their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.7 %

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’s fifty day moving average is $406.45 and its 200 day moving average is $385.03. The firm has a market cap of $384.32 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.81 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.33%. Home Depot’s payout ratio is 61.14%.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the second quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter worth $41,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the 3rd quarter valued at about $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot during the second quarter worth $47,000. Finally, Quarry LP raised its holdings in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 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.