Home Depot (NYSE:HD) Trading Down 0.5% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded down 0.5% on Friday . The stock traded as low as $385.81 and last traded at $386.64. 451,277 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,398,664 shares. The stock had previously closed at $388.46.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. DA Davidson lifted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.2 %

The stock has a market cap of $386.60 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The stock’s 50-day moving average is $406.94 and its two-hundred day moving average is $384.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.31%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last three months. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth $25,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter valued at about $40,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the 3rd quarter worth approximately $41,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased 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.

About Home Depot

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.