Home Depot (NYSE:HD) Stock Price Up 0.5% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price traded up 0.5% during trading on Wednesday . The company traded as high as $428.00 and last traded at $424.79. 889,632 shares were traded during mid-day trading, a decline of 74% from the average session volume of 3,359,377 shares. The stock had previously closed at $422.59.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HD shares. Truist Financial increased their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. Telsey Advisory Group raised shares of Home Depot from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.00.

Home Depot Trading Up 0.2 %

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 has a market cap of $420.72 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The business's 50 day moving average price is $411.36 and its 200-day moving average price is $376.78.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the firm earned $3.81 EPS. The firm's quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot's payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company's stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the 3rd quarter worth approximately $46,000. 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.

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