Home Depot (NYSE:HD) Trading Down 0.2% – Here’s Why

The Home Depot, Inc. (NYSE:HD) fell 0.2% on Wednesday . The company traded as low as $399.00 and last traded at $401.19. 726,832 shares changed hands during trading, a decline of 78% from the average session volume of 3,362,296 shares. The stock had previously closed at $401.85.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. UBS Group lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research note on Tuesday. They set a “market perform” rating and a $451.00 price objective on the stock. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. One investment 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. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $412.00.

Home Depot Trading Down 1.1 %

The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company has a 50-day simple moving average of $389.08 and a 200 day simple moving average of $359.73. The company has a market capitalization of $395.08 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate 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 return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $4.65 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of HD. WD Rutherford LLC grew its position in Home Depot by 4.5% in the third quarter. WD Rutherford LLC now owns 12,454 shares of the home improvement retailer’s stock valued at $5,046,000 after acquiring an additional 531 shares during the period. Walter & Keenan Wealth Management LLC IN ADV grew its position in Home Depot by 1.4% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 10,465 shares of the home improvement retailer’s stock valued at $4,240,000 after acquiring an additional 147 shares during the period. Childress Capital Advisors LLC grew its position in Home Depot by 2.2% in the third quarter. Childress Capital Advisors LLC now owns 3,316 shares of the home improvement retailer’s stock valued at $1,344,000 after acquiring an additional 72 shares during the period. Highview Capital Management LLC DE grew its position in Home Depot by 5.3% in the third quarter. Highview Capital Management LLC DE now owns 2,366 shares of the home improvement retailer’s stock valued at $959,000 after acquiring an additional 120 shares during the period. Finally, Lodestar Private Asset Management LLC grew its position in Home Depot by 16.0% in the third quarter. Lodestar Private Asset Management LLC now owns 5,017 shares of the home improvement retailer’s stock valued at $2,033,000 after acquiring an additional 692 shares during the period. 70.86% of the stock is currently owned by institutional investors.

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.