Home Depot (NYSE:HD) Trading Down 1.3% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) dropped 1.3% during trading on Tuesday . The stock traded as low as $351.16 and last traded at $349.45. Approximately 533,280 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,194,746 shares. The stock had previously closed at $354.13.

Wall Street Analysts Forecast Growth

HD has been the topic of several analyst reports. Robert W. Baird reduced their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

The firm has a market capitalization of $351.01 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 business has a 50-day moving average of $395.36 and a 200 day moving average of $399.08.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS 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. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter worth $28,000. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP grew its stake 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 worth $37,000 after acquiring an additional 66 shares during the period. Institutional investors own 70.86% of the company’s stock.

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.