Home Depot (NYSE:HD) Trading 1% Higher – What’s Next?

The Home Depot, Inc. (NYSE:HD) was up 1% during mid-day trading on Monday . The company traded as high as $381.74 and last traded at $380.53. Approximately 888,322 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,292,489 shares. The stock had previously closed at $376.80.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HD. Truist Financial dropped their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Evercore ISI boosted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Down 0.7 %

The firm’s fifty day moving average is $400.21 and its 200-day moving average is $400.02. The stock has a market capitalization of $371.65 billion, a PE ratio of 25.42, a PEG ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $2.82 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Trading of Home Depot

Several large investors have recently bought and sold shares of HD. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake in 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 valued at $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Northern Trust Corp lifted its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Home Depot in the 4th quarter worth about $471,189,000. Institutional investors and hedge funds 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.