Home Depot (NYSE:HD) Trading 0.4% Higher – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares traded up 0.4% during mid-day trading on Thursday . The company traded as high as $411.57 and last traded at $411.58. 753,354 shares changed hands during trading, a decline of 76% from the average session volume of 3,081,694 shares. The stock had previously closed at $410.10.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HD shares. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. DA Davidson lifted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Truist Financial upped their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

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 fifty day moving average price of $407.14 and a two-hundred day moving average price of $390.16. The company has a market capitalization of $411.77 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 4.32 and a beta of 1.05.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.17%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the third quarter worth about $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot in the fourth quarter worth about $41,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors 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.