Home Depot (NYSE:HD) Trading 0% Higher – Here’s Why

The Home Depot, Inc. (NYSE:HD) was up 0% during trading on Wednesday . The company traded as high as $416.84 and last traded at $415.69. Approximately 458,695 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,369,330 shares. The stock had previously closed at $415.58.

Analysts Set New Price Targets

A number of research analysts have commented on HD shares. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Oppenheimer upped their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Guggenheim upped their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Trading Down 0.1 %

The firm has a 50-day moving average of $383.77 and a two-hundred day moving average of $358.20. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a market capitalization of $411.53 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.88 and a beta of 1.00.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter worth $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the second quarter worth $40,000. Abich Financial Wealth Management LLC boosted its stake in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Home Depot during the first quarter worth $49,000. 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.