Home Depot (NYSE:HD) Trading Down 1.5% – Time to Sell?

Shares of The Home Depot, Inc. (NYSE:HD) traded down 1.5% on Tuesday . The company traded as low as $403.86 and last traded at $403.48. 579,156 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,883,277 shares. The stock had previously closed at $409.50.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Thursday. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada increased their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $433.44.

Home Depot Trading Down 0.2 %

The company’s fifty day moving average is $403.17 and its two-hundred day moving average is $397.01. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $392.01 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 4.12 and a beta of 1.05.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. International Assets Investment Management LLC boosted its holdings in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Home Depot in the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Home Depot by 13.3% during 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 during the last quarter. Institutional investors and hedge funds 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.