Home Depot (NYSE:HD) Shares Down 0.8% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price dropped 0.8% on Thursday . The stock traded as low as $391.30 and last traded at $392.18. Approximately 673,858 shares traded hands during trading, a decline of 77% from the average daily volume of 2,946,125 shares. The stock had previously closed at $395.43.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research report on Friday, October 25th. TD Cowen lifted their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a "buy" rating in a report on Monday, October 28th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a report on Thursday. Stifel Nicolaus lifted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a report on Monday, November 11th. Finally, Mizuho lifted their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $433.44.

Home Depot Stock Performance

The firm has a market capitalization of $382.26 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 4.04 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business's 50 day simple moving average is $402.13 and its two-hundred day simple moving average is $397.24.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Ascent Group LLC grew its position in shares of Home Depot by 0.7% during the 4th quarter. Ascent Group LLC now owns 28,831 shares of the home improvement retailer's stock valued at $11,215,000 after acquiring an additional 206 shares during the period. Putney Financial Group LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $180,000. Aurdan Capital Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $676,000. Perennial Advisors LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $5,609,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Home Depot during the 4th quarter valued at $132,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.