Home Depot (NYSE:HD) Stock Price Up 1.8% – What’s Next?

by · The Cerbat Gem

The Home Depot, Inc. (NYSE:HD – Get Free Report) shot up 1.8% during trading on Wednesday . The company traded as high as $352.02 and last traded at $351.4340. 5,739,508 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 3,646,187 shares. The stock had previously closed at $345.27.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HD shares. Robert W. Baird decreased their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. DZ Bank reaffirmed a “sell” rating on shares of Home Depot in a research note on Tuesday, November 18th. KGI Securities cut Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 price objective for the company. in a report on Wednesday, November 19th. Telsey Advisory Group reduced their price target on shares of Home Depot from $430.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, HSBC decreased their price objective on Home Depot from $445.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $401.47.

View Our Latest Analysis on Home Depot

Home Depot Stock Performance

The firm has a market capitalization of $349.86 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 6.17 and a beta of 1.06. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The stock’s fifty day moving average is $370.71 and its two-hundred day moving average is $379.61.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.6%. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in the business. Painted Porch Advisors LLC increased its stake in Home Depot by 16.6% during the third quarter. Painted Porch Advisors LLC now owns 373 shares of the home improvement retailer’s stock valued at $151,000 after purchasing an additional 53 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Home Depot by 101.6% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 284,000 shares of the home improvement retailer’s stock valued at $115,071,000 after buying an additional 143,100 shares during the period. Saranac Partners Ltd acquired a new position in shares of Home Depot in the 3rd quarter valued at about $374,000. Severin Investments LLC grew its position in shares of Home Depot by 3.9% during the 3rd quarter. Severin Investments LLC now owns 1,903 shares of the home improvement retailer’s stock valued at $771,000 after buying an additional 72 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Home Depot by 1.9% during the third quarter. Allworth Financial LP now owns 204,834 shares of the home improvement retailer’s stock worth $82,997,000 after acquiring an additional 3,831 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Company Profile

(Get Free Report)

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.

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