Home Depot (NYSE:HD) Shares Down 1.3% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $351.16 and last traded at $349.45. Approximately 533,280 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,194,746 shares. The stock had previously closed at $354.13.

Analyst Ratings Changes

HD has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Royal Bank of Canada dropped their target price on 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. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird dropped their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, HSBC raised Home Depot from a "reduce" rating to a "hold" rating and lifted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $436.50.

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Home Depot Trading Down 1.0 %

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 stock has a 50 day simple moving average of $393.97 and a 200-day simple moving average of $399.14. The firm has a market cap of $349.78 billion, a P/E ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 EPS. The company's revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.61%. Home Depot's payout ratio is 61.66%.

Hedge Funds Weigh In On Home Depot

Large investors have recently bought and sold shares of the business. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter worth $28,000. Navigoe LLC bought a new position in shares of Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP increased its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors 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.