Home Depot (NYSE:HD) Trading Up 0.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares were up 0.6% on Friday . The company traded as high as $350.65 and last traded at $349.21. Approximately 1,316,795 shares traded hands during trading, a decline of 61% from the average daily volume of 3,399,974 shares. The stock had previously closed at $347.25.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler lowered their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 0.7 %

The firm’s fifty day simple moving average is $398.19 and its 200 day simple moving average is $399.42. 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 stock has a market capitalization of $347.37 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm posted $2.82 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast 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. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth $32,000. Finally, Quarry LP grew its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the last quarter. Institutional investors 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.