Home Depot (NYSE:HD) Stock Price Down 1.5% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price dropped 1.5% during trading on Tuesday . The stock traded as low as $403.86 and last traded at $403.48. Approximately 579,156 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,883,277 shares. The stock had previously closed at $409.50.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Truist Financial raised their price target on shares of Home Depot from $465.00 to $467.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. TD Cowen raised their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a "sector perform" rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $433.44.

Home Depot Trading Down 2.5 %

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm's fifty day simple moving average is $402.77 and its 200-day simple moving average is $397.00. The stock has a market cap of $382.26 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 4.04 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter valued at $5,032,910,000. International Assets Investment Management LLC increased its stake in shares of Home Depot by 51,250.1% in the 3rd 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 acquiring an additional 8,762,735 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its stake in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp increased its stake 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 valued at $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. 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.