Home Depot (NYSE:HD) Trading Up 1.3%

The Home Depot, Inc. (NYSE:HD) shot up 1.3% during trading on Thursday . The stock traded as high as $391.87 and last traded at $389.04. 1,034,383 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,368,093 shares. The stock had previously closed at $384.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HD shares. Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Truist Financial reduced their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Evercore ISI reduced their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $389.04.

Home Depot Trading Down 0.1 %

The stock has a market capitalization of $386.70 billion, a PE ratio of 26.15, a PEG ratio of 2.57 and a beta of 1.00. The stock has a 50-day moving average price of $364.95 and a two-hundred day moving average price of $354.45. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s payout ratio is 60.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $27,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter worth about $33,000. Burkett Financial Services LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the first quarter worth $38,000. 70.86% of the stock is currently owned by institutional investors.

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.