Home Depot (NYSE:HD) Stock Price Up 0.4% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) rose 0.4% during mid-day trading on Thursday . The company traded as high as $411.57 and last traded at $411.58. Approximately 753,354 shares were traded during trading, a decline of 76% from the average daily volume of 3,081,694 shares. The stock had previously closed at $410.10.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Guggenheim raised their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Up 0.7 %

The firm has a market cap of $410.41 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 4.41 and a beta of 1.05. The company’s 50-day moving average price is $406.83 and its 200-day moving average price is $389.47. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.81 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.18%. Home Depot’s payout ratio is presently 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Home Depot

Institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at $41,000. Sugar Maple Asset Management LLC purchased a new position in Home Depot in the fourth quarter valued at $41,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the second quarter valued at $47,000. 70.86% of the stock is 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.