The Home Depot, Inc. (NYSE:HD – Get Free Report) shares shot up 2.4% during trading on Tuesday . The company traded as high as $419.40 and last traded at $419.39. 705,365 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,996,039 shares. The stock had previously closed at $409.38.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on HD. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Free Report) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.
Home Depot Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s payout ratio is 61.14%.
Insider Buying and Selling
In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 in the last 90 days. Company insiders own 0.10% of the company’s stock.
Hedge Funds Weigh In On Home Depot
A number of large investors have recently modified their holdings of HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter worth $26,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth about $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot in the second quarter valued at approximately $47,000. 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.
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