Home Depot (NYSE:HD) Shares Up 0.8% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price shot up 0.8% on Tuesday . The stock traded as high as $413.82 and last traded at $411.29. 1,238,688 shares traded hands during trading, a decline of 63% from the average session volume of 3,380,158 shares. The stock had previously closed at $408.06.

Wall Street Analyst Weigh In

HD has been the subject of a number of research analyst reports. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a "market perform" rating in a report on Tuesday, September 24th. Gordon Haskett raised Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. Evercore ISI cut their price objective on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, August 14th. Truist Financial decreased their target price on Home Depot from $396.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, August 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Home Depot from $377.00 to $363.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $398.54.

Home Depot Stock Performance

The firm's 50 day moving average price is $374.21 and its two-hundred day moving average price is $356.13. The firm has a market cap of $410.76 billion, a PE ratio of 27.83, a PEG ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts' consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analysts' expectations of $42.57 billion. During the same period last year, the business earned $4.65 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot's dividend payout ratio (DPR) is presently 60.36%.

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of HD. Tilia Fiduciary Partners Inc. raised its position in Home Depot by 10.6% in the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 2,211 shares of the home improvement retailer's stock valued at $896,000 after purchasing an additional 212 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in Home Depot in the third quarter valued at approximately $2,867,000. Royal Fund Management LLC raised its holdings in Home Depot by 191.5% in the third quarter. Royal Fund Management LLC now owns 4,836 shares of the home improvement retailer's stock valued at $1,960,000 after acquiring an additional 3,177 shares in the last quarter. Howard Financial Services LTD. lifted its stake in Home Depot by 6.3% in the third quarter. Howard Financial Services LTD. now owns 1,604 shares of the home improvement retailer's stock worth $650,000 after acquiring an additional 95 shares during the last quarter. Finally, True North Advisors LLC grew its holdings in Home Depot by 4.3% during the 3rd quarter. True North Advisors LLC now owns 2,181 shares of the home improvement retailer's stock worth $884,000 after acquiring an additional 89 shares in the last quarter. 70.86% of the stock is currently 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.