Home Depot (NYSE:HD) Trading Up 0.9% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.9% during trading on Wednesday . The company traded as high as $396.14 and last traded at $396.14. 1,392,629 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 3,386,831 shares. The stock had previously closed at $392.45.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Guggenheim increased their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Down 0.3 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s 50 day moving average price is $408.67 and its 200-day moving average price is $382.20. The stock has a market capitalization of $392.52 billion, a PE ratio of 26.84, a PEG ratio of 2.93 and a beta of 1.03.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the firm earned $3.81 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect 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. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.28%. Home Depot’s payout ratio is 61.14%.

Insider Activity

In related news, 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 transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last quarter. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter valued at approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot during the 3rd quarter valued at $46,000. 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.