Home Depot (NYSE:HD) Stock Price Down 1.9% - Here's What Happened

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) dropped 1.9% during mid-day trading on Wednesday . The company traded as low as $394.48 and last traded at $395.84. Approximately 889,315 shares traded hands during trading, a decline of 70% from the average daily volume of 2,924,125 shares. The stock had previously closed at $403.31.

Analyst Upgrades and Downgrades

HD has been the subject of a number of analyst reports. DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Barclays increased their target price on Home Depot from $372.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Mizuho increased their target price on Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $433.44.

Home Depot Stock Down 2.5 %

The firm has a 50-day simple moving average of $402.13 and a two-hundred day simple moving average of $397.24. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $382.26 billion, a PE ratio of 26.14, a P/E/G ratio of 4.04 and a beta of 1.05.

Institutional Trading of Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Norges Bank acquired a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. International Assets Investment Management LLC lifted 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 purchasing an additional 8,762,735 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted 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 purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp lifted 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 purchasing an additional 1,424,857 shares in the last quarter. 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.