Home Depot (NYSE:HD) Trading Up 1.1% – What’s Next?

The Home Depot, Inc. (NYSE:HD) was up 1.1% during mid-day trading on Monday . The stock traded as high as $363.33 and last traded at $362.25. Approximately 891,411 shares traded 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Robert W. Baird lowered their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target 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. Finally, Truist Financial decreased their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Up 2.1 %

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 stock has a market cap of $363.63 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The stock has a 50-day moving average of $389.98 and a 200 day moving average of $398.99.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.51%. Home Depot’s dividend payout ratio is 61.66%.

Institutional Trading of Home Depot

Large investors have recently added to or reduced their stakes in the stock. POM Investment Strategies LLC lifted its holdings in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after buying an additional 24 shares during the period. Insight Inv LLC lifted its position in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC increased its position in shares of Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.