Home Depot (NYSE:HD) Shares Down 0.6% – Should You Sell?

The Home Depot, Inc. (NYSE:HD)’s share price dropped 0.6% during trading on Wednesday . The company traded as low as $349.64 and last traded at $352.05. Approximately 481,800 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,690,305 shares. The stock had previously closed at $354.11.

Analysts Set New Price Targets

A number of analysts have issued reports on HD shares. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

Home Depot Trading Down 2.7 %

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 business’s fifty day moving average is $372.94 and its two-hundred day moving average is $395.38. The firm has a market cap of $342.55 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its 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 company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at $28,000. Navigoe LLC acquired a new stake in Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP grew its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.