Home Depot (NYSE:HD) Trading Down 1.2% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded down 1.2% during trading on Wednesday . The stock traded as low as $363.35 and last traded at $363.61. 675,690 shares were traded during trading, a decline of 80% from the average session volume of 3,313,861 shares. The stock had previously closed at $368.16.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial decreased their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Nine 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 0.6 %

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 has a 50-day simple moving average of $399.50 and a 200-day simple moving average of $400.03. The company has a market cap of $363.57 billion, a PE ratio of 24.88, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC purchased a new position in Home Depot during the fourth quarter worth approximately $770,000. Campbell Deegan Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $236,000. Aegis Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $279,000. Copia Wealth Management acquired a new stake in Home Depot during the fourth quarter worth about $47,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Home Depot during the fourth quarter worth about $283,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.