Home Depot (NYSE:HD) Trading Down 0.6% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s share price was down 0.6% during trading on Monday . The company traded as low as $401.01 and last traded at $409.40. Approximately 894,309 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 3,057,055 shares. The stock had previously closed at $411.98.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.6 %

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $411.29 billion, a P/E ratio of 28.13, a PEG ratio of 4.34 and a beta of 1.05. The business’s fifty day moving average price is $407.11 and its two-hundred day moving average price is $393.41.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.81 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend 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 Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last three months. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot during the third quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Home Depot in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.