Home Depot (NYSE:HD) Trading Down 0.1% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) were down 0.1% on Thursday . The stock traded as low as $380.73 and last traded at $386.09. Approximately 633,686 shares were traded during trading, a decline of 80% from the average daily volume of 3,237,515 shares. The stock had previously closed at $386.35.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Stifel Nicolaus increased their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Bank of America increased their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Down 1.3 %

The firm has a market capitalization of $374.16 billion, a PE ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.05. 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 business has a fifty day moving average price of $400.21 and a two-hundred day moving average price of $399.59.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. Analysts expect 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. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. Home Depot’s dividend payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the 4th quarter valued at about $32,000. Finally, Quarry LP raised its position in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. 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.