Home Depot (NYSE:HD) Trading Down 2.6% – Time to Sell?

Shares of The Home Depot, Inc. (NYSE:HD) dropped 2.6% during mid-day trading on Tuesday . The company traded as low as $380.00 and last traded at $379.72. Approximately 1,299,424 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 3,236,218 shares. The stock had previously closed at $389.69.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HD shares. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Evercore ISI increased their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Down 2.1 %

The firm has a 50-day moving average of $401.29 and a two-hundred day moving average of $399.57. The firm has a market capitalization of $379.02 billion, a P/E ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS 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 given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.41%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the fourth quarter worth about $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP raised its holdings in 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 last quarter. Institutional investors 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.