Home Depot (NYSE:HD) Trading Down 1.9% – Should You Sell?

The Home Depot, Inc. (NYSE:HD)’s share price fell 1.9% on Tuesday . The stock traded as low as $389.05 and last traded at $395.38. 1,271,351 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 3,348,991 shares. The stock had previously closed at $402.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HD shares. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Oppenheimer upped their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. UBS Group boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Finally, Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $413.48.

Home Depot Price Performance

The company has a market cap of $393.07 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm has a 50 day simple moving average of $390.61 and a 200-day simple moving average of $360.44.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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. The firm 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%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth approximately $33,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter valued at approximately $46,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.