Home Depot (NYSE:HD) Stock Price Up 1.2% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s stock price rose 1.2% during trading on Thursday . The company traded as high as $395.22 and last traded at $395.30. Approximately 784,319 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,202,602 shares. The stock had previously closed at $390.48.

Analyst Ratings Changes

A number of equities analysts have commented on HD shares. Piper Sandler decreased their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday. Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

The business has a 50-day moving average of $401.17 and a two-hundred day moving average of $398.42. 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 $387.85 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. Home Depot’s payout ratio is currently 61.14%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at $32,000. Finally, Quarry LP lifted its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.