Home Depot (NYSE:HD) Trading Down 1.6% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report) traded down 1.6% during trading on Tuesday . The stock traded as low as $367.00 and last traded at $368.49. 669,951 shares were traded during trading, a decline of 80% from the average session volume of 3,298,198 shares. The stock had previously closed at $374.65.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird lowered their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $455.00 to $435.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Wedbush restated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $436.50.

Home Depot Price Performance

The stock's fifty day moving average price is $397.43 and its 200-day moving average price is $399.44. 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 firm has a market cap of $348.83 billion, a PE ratio of 23.86, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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 was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared 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 represents a $9.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently added to or reduced their stakes in HD. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $32,000. Finally, Quarry LP boosted its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.