Home Depot (NYSE:HD) Stock Price Up 1.1% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price rose 1.1% during trading on Friday . The company traded as high as $398.27 and last traded at $398.17. Approximately 453,531 shares were traded during trading, a decline of 86% from the average daily volume of 3,341,517 shares. The stock had previously closed at $393.75.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley upped their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Trading Down 0.3 %

The business has a 50 day simple moving average of $392.51 and a 200-day simple moving average of $361.82. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market capitalization of $389.96 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently modified their holdings of HD. International Assets Investment Management LLC raised its holdings in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Wulff Hansen & CO. raised its holdings in shares of Home Depot by 33,540.9% during the 2nd 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 period. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Home Depot during the 1st quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Home Depot by 15.0% during the 1st 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 period. Finally, Swedbank AB purchased a new stake in shares of Home Depot during the 1st quarter valued at about $301,364,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.