Home Depot (NYSE:HD) Stock Price Up 0.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price traded up 0.6% during trading on Wednesday . The company traded as high as $364.73 and last traded at $363.29. 690,980 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,206,852 shares. The stock had previously closed at $360.99.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 0.4 %

The business has a 50-day moving average price of $392.82 and a 200-day moving average price of $399.16. 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 firm has a market capitalization of $360.03 billion, a P/E ratio of 24.63, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently modified their holdings of HD. Avant Financial Advisors LLC acquired a new position in Home Depot during the fourth quarter worth $238,000. Fire Capital Management LLC bought a new position in Home Depot during the 4th quarter valued at about $933,000. Mascagni Wealth Management Inc. acquired a new position in Home Depot in the fourth quarter valued at about $172,000. Prostatis Group LLC grew its stake in Home Depot by 4.5% during the fourth quarter. Prostatis Group LLC now owns 5,891 shares of the home improvement retailer’s stock worth $2,291,000 after buying an additional 255 shares during the last quarter. Finally, Nestegg Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $665,000. 70.86% of the stock is 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.