Home Depot (NYSE:HD) Trading Down 0.7% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) was down 0.7% on Monday . The stock traded as low as $408.56 and last traded at $409.47. Approximately 3,001,846 shares were traded during trading, an increase of 0% from the average daily volume of 2,987,510 shares. The stock had previously closed at $412.43.

Analyst Ratings Changes

HD has been the subject of several recent research reports. Mizuho lifted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial raised their price objective on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. DA Davidson boosted their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.44.

Home Depot Stock Performance

The stock’s 50-day moving average is $403.70 and its 200 day moving average is $397.03. The stock has a market cap of $392.15 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 4.18 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new position in shares of Home Depot in the fourth quarter valued at $5,032,910,000. Capital Research Global Investors increased its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Home Depot by 13.3% in the 4th 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.