Home Depot (NYSE:HD) Stock Price Up 1.8% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded up 1.8% during trading on Tuesday . The company traded as high as $353.75 and last traded at $353.26. 440,799 shares changed hands during trading, a decline of 87% from the average session volume of 3,461,150 shares. The stock had previously closed at $346.90.

Analyst Ratings Changes

HD has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Wells Fargo & Company increased their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $356.87 billion, a PE ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 1.09. The business's 50 day moving average is $365.88 and its two-hundred day moving average is $393.13.

Home Depot (NYSE:HD - Get Free Report) last posted 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 net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost 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%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Synergy Asset Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the 4th quarter valued at $28,000. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in 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 valued at $37,000 after purchasing an additional 66 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

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.