Home Depot (NYSE:HD) Stock Price Down 1.5% - What's Next?

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) fell 1.5% during trading on Tuesday . The stock traded as low as $403.86 and last traded at $403.48. 579,156 shares traded hands during trading, a decline of 80% from the average session volume of 2,883,277 shares. The stock had previously closed at $409.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HD. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Truist Financial increased their price objective on shares of Home Depot from $465.00 to $467.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Bank of America increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. One equities research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $433.44.

Home Depot Stock Performance

The stock has a market cap of $382.26 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 4.04 and a beta of 1.05. 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 company's 50 day simple moving average is $402.77 and its 200 day simple moving average is $397.00.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Vanguard Group Inc. raised its position in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC increased its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank bought a new position in Home Depot during the fourth quarter worth $5,032,910,000. Capital Research Global Investors increased its position in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp increased its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. 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.