Home Depot (NYSE:HD) Shares Down 1.9% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price was down 1.9% during trading on Wednesday . The company traded as low as $394.48 and last traded at $395.84. Approximately 889,315 shares changed hands during trading, a decline of 70% from the average daily volume of 2,924,125 shares. The stock had previously closed at $403.31.

Analyst Upgrades and Downgrades

HD has been the topic of several analyst reports. Mizuho raised their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Finally, TD Cowen raised their target price 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $433.44.

Home Depot Trading Down 1.9 %

The firm has a market capitalization of $392.91 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 4.18 and a beta of 1.05. The business’s 50-day moving average price is $403.70 and its 200 day moving average price is $397.03. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Norges Bank acquired a new stake in Home Depot during the 4th quarter valued at approximately $5,032,910,000. International Assets Investment Management LLC boosted its stake in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other 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.