Home Depot (NYSE:HD) Stock Price Up 1%

The Home Depot, Inc. (NYSE:HD)’s stock price rose 1% during trading on Thursday . The stock traded as high as $355.19 and last traded at $353.69. Approximately 811,593 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,406,868 shares. The stock had previously closed at $350.31.

Analysts Set New Price Targets

HD has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Raymond James reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Evercore ISI raised their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, Bank of America raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $381.80.

Home Depot Price Performance

The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a market capitalization of $356.62 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.44 and a beta of 0.98. The business’s fifty day simple moving average is $343.17 and its 200 day simple moving average is $353.24.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $3.82 earnings per share. On average, research analysts forecast that The Home Depot, Inc. will post 15.3 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Bare Financial Services Inc bought a new stake in Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $27,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its position in shares of Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $35,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.