Home Depot (NYSE:HD) Shares Down 0% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares were down 0% during trading on Tuesday . The stock traded as low as $389.00 and last traded at $389.39. Approximately 593,288 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,357,950 shares. The stock had previously closed at $389.43.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HD shares. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Morgan Stanley upped their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho upped their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Oppenheimer lifted their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Down 0.5 %

The firm has a market capitalization of $384.99 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company’s 50-day simple moving average is $408.23 and its 200 day simple moving average is $383.22.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $3.81 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.32%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last three months. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently modified their holdings of HD. SK Wealth Management LLC acquired a new position in shares of Home Depot in the third quarter worth about $235,000. Independent Solutions Wealth Management LLC boosted its position in Home Depot by 8.8% during the third quarter. Independent Solutions Wealth Management LLC now owns 8,652 shares of the home improvement retailer’s stock worth $3,506,000 after purchasing an additional 701 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Home Depot by 0.6% in the third quarter. Lord Abbett & CO. LLC now owns 125,350 shares of the home improvement retailer’s stock valued at $50,792,000 after purchasing an additional 776 shares during the period. Brass Tax Wealth Management Inc. increased its position in shares of Home Depot by 30.5% in the third quarter. Brass Tax Wealth Management Inc. now owns 788 shares of the home improvement retailer’s stock valued at $319,000 after buying an additional 184 shares in the last quarter. Finally, Legacy Wealth Management LLC MS lifted its position in shares of Home Depot by 43.0% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 1,288 shares of the home improvement retailer’s stock valued at $522,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.