Home Depot (NYSE:HD) Sets New 52-Week High – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $411.49 and last traded at $407.70, with a volume of 240663 shares traded. The stock had previously closed at $411.26.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus reduced their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $398.54.

Home Depot Stock Performance

The firm has a market cap of $404.94 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The business has a 50 day simple moving average of $373.28 and a two-hundred day simple moving average of $356.40. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s payout ratio is 60.36%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot in the 1st quarter valued at about $38,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $39,000. Finally, Denver PWM LLC bought a new position in shares of Home Depot during the second quarter valued at approximately $40,000. 70.86% of the stock is 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.