Home Depot (NYSE:HD) Trading 0.1% Higher – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $384.04 and last traded at $382.07. 565,071 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,247,554 shares. The stock had previously closed at $381.68.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI increased their price objective on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 1.3 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $383.97 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business has a fifty day moving average price of $401.00 and a 200 day moving average price of $399.71.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.38%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HD. BridgePort Financial Solutions LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $767,000. Park Square Financial Group LLC acquired a new position in Home Depot during the fourth quarter worth $1,401,000. Total Wealth Planning & Management Inc. bought a new position in shares of Home Depot during the fourth quarter valued at $1,664,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Home Depot in the 4th quarter valued at $275,420,000. Finally, Brooklyn FI LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $2,312,000. 70.86% of the stock is owned by institutional investors.

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.