Home Depot (NYSE:HD) Trading 1.1% Higher – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) was up 1.1% during mid-day trading on Monday . The stock traded as high as $363.33 and last traded at $362.25. Approximately 891,411 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,439,605 shares. The stock had previously closed at $358.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HD. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 0.4 %

The stock has a fifty day moving average of $388.06 and a 200-day moving average of $398.84. The firm has a market capitalization of $362.78 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 4.03 and a beta of 1.08. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the business posted $2.82 EPS. Home Depot’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Trading of Home Depot

Hedge funds have recently modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP increased its stake 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 buying an additional 66 shares during the period. 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.