Home Depot (NYSE:HD) Hits New 1-Year High – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $420.00 and last traded at $419.09, with a volume of 322457 shares. The stock had previously closed at $414.18.

Analyst Ratings Changes

Several research firms have recently commented on HD. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Oppenheimer raised their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $402.38.

Home Depot Trading Down 0.6 %

The firm has a 50-day moving average of $375.22 and a two-hundred day moving average of $356.30. The firm has a market capitalization of $408.34 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm 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 firm posted $4.65 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cadinha & Co. LLC increased its position in Home Depot by 71.2% during the 3rd quarter. Cadinha & Co. LLC now owns 47,050 shares of the home improvement retailer’s stock valued at $19,065,000 after purchasing an additional 19,565 shares during the period. Advocate Group LLC boosted its stake in shares of Home Depot by 4.5% in the 3rd quarter. Advocate Group LLC now owns 20,525 shares of the home improvement retailer’s stock valued at $8,317,000 after purchasing an additional 881 shares during the last quarter. Cypress Wealth Services LLC increased its position in shares of Home Depot by 6.0% during the third quarter. Cypress Wealth Services LLC now owns 1,563 shares of the home improvement retailer’s stock worth $633,000 after buying an additional 88 shares during the period. Northstar Group Inc. increased its position in shares of Home Depot by 2.1% during the third quarter. Northstar Group Inc. now owns 6,191 shares of the home improvement retailer’s stock worth $2,509,000 after buying an additional 130 shares during the period. Finally, Morton Capital Management LLC CA raised its stake in Home Depot by 7.6% during the third quarter. Morton Capital Management LLC CA now owns 3,458 shares of the home improvement retailer’s stock worth $1,401,000 after buying an additional 244 shares during the last quarter. 70.86% of the stock is 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.