Home Depot (NYSE:HD) Trading Down 2.7% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report) fell 2.7% during mid-day trading on Friday . The stock traded as low as $370.00 and last traded at $371.32. 1,056,651 shares changed hands during trading, a decline of 68% from the average session volume of 3,264,232 shares. The stock had previously closed at $381.73.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HD. Stifel Nicolaus upped their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Evercore ISI increased their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $436.50.

Remove Ads

Home Depot Trading Down 1.3 %

The company has a market cap of $374.16 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.03 and a beta of 1.09. 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 business's 50 day moving average price is $400.21 and its 200-day moving average price is $399.81.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS 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 given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SYM FINANCIAL Corp boosted its stake in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer's stock valued at $777,000 after purchasing an additional 289 shares during the last quarter. Swedbank AB boosted its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock valued at $596,140,000 after purchasing an additional 141,915 shares during the last quarter. Capital Performance Advisors LLP boosted its stake in shares of Home Depot by 22.1% in the 3rd quarter. Capital Performance Advisors LLP now owns 740 shares of the home improvement retailer's stock valued at $300,000 after purchasing an additional 134 shares during the last quarter. Finally, ABLE Financial Group LLC boosted its stake in shares of Home Depot by 10.6% in the 3rd quarter. ABLE Financial Group LLC now owns 5,667 shares of the home improvement retailer's stock valued at $2,296,000 after purchasing an additional 542 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Company Profile

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.