The Home Depot, Inc. (NYSE:HD - Get Free Report) shares were up 1.1% during trading on Monday . The company traded as high as $363.33 and last traded at $362.25. Approximately 891,411 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,439,605 shares. The stock had previously closed at $358.15.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Nine equities research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $435.85.
View Our Latest Stock Analysis on Home Depot
Home Depot Price Performance
The company has a market capitalization of $369.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.03 and a beta of 1.08. The stock's fifty day simple moving average is $388.06 and its 200-day simple moving average is $398.84. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.
Home Depot (NYSE:HD - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.
Home Depot Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.48%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is currently 61.66%.
Hedge Funds Weigh In On Home Depot
Large investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter valued at $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at $32,000. Finally, Quarry LP boosted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.
About Home Depot
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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.
Further Reading
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