Home Depot (NYSE:HD) Trading Down 2.5% - Should You Sell?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price was down 2.5% during trading on Friday . The stock traded as low as $344.62 and last traded at $344.88. Approximately 786,843 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,481,653 shares. The stock had previously closed at $353.62.

Analyst Ratings Changes

A number of brokerages have issued reports on HD. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of 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. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, Truist Financial decreased their price target on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $434.08.

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Home Depot Stock Up 0.9 %

The business's 50 day moving average is $375.29 and its 200 day moving average is $395.97. 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 stock has a market cap of $354.79 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is presently 61.66%.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cardinal Capital Management Inc. boosted its position in Home Depot by 10.1% during the first quarter. Cardinal Capital Management Inc. now owns 86,021 shares of the home improvement retailer's stock worth $31,526,000 after purchasing an additional 7,924 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Home Depot during the first quarter valued at about $13,856,000. Parisi Gray Wealth Management increased its stake in shares of Home Depot by 12.3% in the first quarter. Parisi Gray Wealth Management now owns 13,811 shares of the home improvement retailer's stock worth $5,061,000 after purchasing an additional 1,515 shares during the period. Octavia Wealth Advisors LLC lifted its position in shares of Home Depot by 2.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,935 shares of the home improvement retailer's stock worth $1,076,000 after purchasing an additional 72 shares during the last quarter. Finally, Investment Advisory Group LLC grew its holdings in Home Depot by 4.2% in the 1st quarter. Investment Advisory Group LLC now owns 724 shares of the home improvement retailer's stock valued at $265,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds 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.