Home Depot (NYSE:HD) Shares Down 1.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price traded down 1.6% during trading on Friday . The stock traded as low as $356.18 and last traded at $356.83. 464,498 shares traded hands during trading, a decline of 86% from the average session volume of 3,210,537 shares. The stock had previously closed at $362.73.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased 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, Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. 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 company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Stock Down 1.2 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a fifty day simple moving average of $391.01 and a 200 day simple moving average of $398.65. The firm has a market cap of $356.16 billion, a price-to-earnings ratio of 24.34, a PEG 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 for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the firm posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter worth about $28,000. Navigoe LLC purchased a new position in Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the 4th quarter valued at about $32,000. Finally, Quarry LP grew its stake 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 buying an additional 66 shares during the period. Hedge funds and other 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.