Home Depot (NYSE:HD) Shares Down 0.8% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price traded down 0.8% during mid-day trading on Monday . The stock traded as low as $411.38 and last traded at $411.51. 633,394 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,354,786 shares. The stock had previously closed at $415.00.

Analyst Ratings Changes

Several brokerages have weighed in on HD. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Wednesday, October 2nd. Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Oppenheimer increased their target price on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Price Performance

The company has a market capitalization of $396.29 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm’s 50 day simple moving average is $387.35 and its 200 day simple moving average is $359.15.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the firm posted $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in HD. International Assets Investment Management LLC lifted its holdings in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. grew its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares during the period. 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.