Home Depot (NYSE:HD) Trading Up 1% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s stock price traded up 1% on Monday . The company traded as high as $358.58 and last traded at $357.42. 486,955 shares were traded during trading, a decline of 86% from the average session volume of 3,478,055 shares. The stock had previously closed at $353.86.

Wall Street Analyst Weigh In

Several research analysts recently commented on HD shares. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial reduced their target price on Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, 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. 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 stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Price Performance

The firm’s fifty day simple moving average is $372.94 and its 200-day simple moving average is $395.38. The firm has a market capitalization of $351.50 billion, a PE ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the business earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Home Depot by 0.6% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 106,806 shares of the home improvement retailer’s stock worth $39,143,000 after acquiring an additional 619 shares during the period. Allen Mooney & Barnes Investment Advisors LLC grew its position in Home Depot by 2.3% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,355 shares of the home improvement retailer’s stock worth $497,000 after purchasing an additional 31 shares during the period. Kelly Financial Services LLC raised its stake in Home Depot by 6.4% during the 1st quarter. Kelly Financial Services LLC now owns 1,648 shares of the home improvement retailer’s stock valued at $604,000 after buying an additional 99 shares during the last quarter. Yarger Wealth Strategies LLC lifted its holdings in shares of Home Depot by 7.5% during the 1st quarter. Yarger Wealth Strategies LLC now owns 1,046 shares of the home improvement retailer’s stock valued at $383,000 after buying an additional 73 shares during the period. Finally, Simon Quick Advisors LLC boosted its stake in shares of Home Depot by 13.2% in the 1st quarter. Simon Quick Advisors LLC now owns 8,275 shares of the home improvement retailer’s stock worth $3,033,000 after buying an additional 965 shares during the last quarter. 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.