Home Depot (NYSE:HD) Trading Up 1% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price was up 1% during mid-day trading on Monday . The company traded as high as $381.74 and last traded at $380.53. Approximately 888,322 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,292,489 shares. The stock had previously closed at $376.80.

Analysts Set New Price Targets

Several equities analysts recently commented on HD shares. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $436.50.

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Home Depot Stock Down 0.9 %

The business has a fifty day moving average of $399.50 and a 200-day moving average of $400.03. The stock has a market cap of $362.39 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates 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 for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. Equities research 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot's payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently modified their holdings of the business. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $32,000. Finally, Quarry LP grew its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.