Home Depot (NYSE:HD) Trading Down 1.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) was down 1.6% during trading on Friday . The company traded as low as $356.18 and last traded at $356.83. Approximately 464,498 shares changed hands during trading, a decline of 86% from the average daily volume of 3,210,537 shares. The stock had previously closed at $362.73.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HD shares. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company raised their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Price Performance

The company’s 50 day moving average price is $389.98 and its 200 day moving average price is $398.80. 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 company has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at $32,000. Finally, Quarry LP increased its stake in shares of 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 buying an additional 66 shares during the period. 70.86% of the stock is 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.