Home Depot (NYSE:HD) Trading Down 1.5% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.5% during mid-day trading on Tuesday . The stock traded as low as $403.86 and last traded at $403.48. Approximately 579,156 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,883,277 shares. The stock had previously closed at $409.50.

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus upped their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Truist Financial upped their price target on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen upped their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $433.44.

Home Depot Stock Down 0.2 %

The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $392.01 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 4.12 and a beta of 1.05. The firm has a 50 day moving average price of $403.17 and a 200-day moving average price of $397.01.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter worth $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is currently 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.