Home Depot (NYSE:HD) Trading Down 0.2% – Here’s Why

by · The Markets Daily

The Home Depot, Inc. (NYSE:HD – Get Free Report)’s stock price fell 0.2% on Wednesday . The company traded as low as $399.00 and last traded at $401.19. 726,832 shares were traded during trading, a decline of 78% from the average session volume of 3,362,296 shares. The stock had previously closed at $401.85.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HD. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 price objective on the stock. Royal Bank of Canada lowered 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 research note on Wednesday, August 14th. Morgan Stanley increased their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $412.00.

Read Our Latest Stock Analysis on HD

Home Depot Price Performance

The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a market cap of $395.08 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.88 and a beta of 1.00. The business’s 50-day moving average price is $389.08 and its two-hundred day moving average price is $359.73.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping 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 the consensus estimate of $42.57 billion. During the same quarter last year, the company earned $4.65 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in HD. International Assets Investment Management LLC lifted its stake in Home Depot by 51,250.1% in the third 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 during the last quarter. Wulff Hansen & CO. lifted its stake in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot in the first quarter valued at $513,016,000. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 971,833 shares during the last quarter. Finally, Swedbank AB bought a new stake in Home Depot in the first quarter valued at $301,364,000. 70.86% of the stock is currently owned by institutional investors.

About Home Depot

(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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