Home Depot (NYSE:HD) Trading Up 0.1% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.1% during mid-day trading on Thursday . The stock traded as high as $402.29 and last traded at $400.07. Approximately 430,394 shares changed hands during trading, a decline of 87% from the average daily volume of 3,360,017 shares. The stock had previously closed at $399.64.

Analyst Ratings Changes

A number of analysts have recently commented on HD shares. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday. They issued a “market perform” rating and a $451.00 price target for the company. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Stock Performance

The firm’s 50-day moving average price is $388.23 and its 200-day moving average price is $359.43. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $397.59 billion, a P/E ratio of 26.83, a PEG ratio of 2.88 and a beta of 1.00.

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

Home Depot Announces Dividend

The business also recently announced 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. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Hedge Funds Weigh In On Home Depot

Large investors have recently bought and sold shares of the business. Abacus Wealth Partners LLC lifted its stake in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. lifted its position in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares in the last quarter. Acorn Creek Capital LLC grew its stake in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares during the period. Finally, Consolidated Portfolio Review Corp increased its position in shares of Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.