Home Depot (NYSE:HD) Stock Price Up 0.3% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report) traded up 0.3% on Thursday . The company traded as high as $365.09 and last traded at $363.23. 777,786 shares were traded during trading, a decline of 78% from the average session volume of 3,501,974 shares. The stock had previously closed at $362.13.

Analyst Ratings Changes

A number of research firms have recently issued reports on HD. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and upped their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $435.85.

Home Depot Stock Down 1.3 %

The company has a market capitalization of $355.72 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a 50-day moving average of $389.98 and a two-hundred day moving average of $398.80. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for 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 company's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.82 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.57%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Institutional Inflows and Outflows

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