Home Depot (NYSE:HD) Trading Down 1.9% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) fell 1.9% on Wednesday . The stock traded as low as $394.48 and last traded at $395.84. 889,315 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,924,125 shares. The stock had previously closed at $403.31.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HD shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Thursday. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. DA Davidson lifted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $433.44.

Home Depot Trading Down 2.5 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $382.26 billion, a PE ratio of 26.14, a P/E/G ratio of 4.04 and a beta of 1.05. The company’s fifty day simple moving average is $402.77 and its 200-day simple moving average is $397.00.

Institutional Trading of Home Depot

Institutional investors have recently made changes to their positions in the company. AMF Tjanstepension AB boosted its stake in shares of Home Depot by 10.8% during the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock worth $69,340,000 after buying an additional 16,650 shares during the period. SYM FINANCIAL Corp increased its position in shares of Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Wealth Group Ltd. acquired a new position in Home Depot during the third quarter worth about $217,000. Swedbank AB lifted its stake in Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in shares of Home Depot by 6.1% during the third quarter. Waldron Private Wealth LLC now owns 11,120 shares of the home improvement retailer’s stock valued at $4,506,000 after acquiring an additional 644 shares during the last quarter. Hedge funds and other 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.