Home Depot (NYSE:HD) Stock Price Down 1.3% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s stock price was down 1.3% during trading on Tuesday . The stock traded as low as $351.16 and last traded at $349.45. Approximately 533,280 shares changed hands during 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 Analyst Weigh In

Several research firms recently issued reports on HD. Royal Bank of Canada cut their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Robert W. Baird decreased their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 1.4 %

The stock’s fifty day moving average is $396.73 and its 200 day moving average is $399.54. 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 cap of $346.74 billion, a P/E ratio of 23.69, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share 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 issued a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.64%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter worth about $28,000. Navigoe LLC bought a new position in Home Depot during the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $32,000. Finally, Quarry LP raised its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. 70.86% of the stock is currently owned by 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.