Home Depot (NYSE:HD) Stock Price Up 0.6% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 0.6% during mid-day trading on Monday . The stock traded as high as $411.26 and last traded at $410.47. 352,245 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 3,367,979 shares. The stock had previously closed at $408.18.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Stifel Nicolaus upped their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. DA Davidson upped their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.4 %

The firm has a 50 day moving average price of $399.51 and a two-hundred day moving average price of $366.81. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $407.02 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.84 and a beta of 1.01.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in HD. Abacus Wealth Partners LLC increased its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Insight Inv LLC increased its stake in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares during the period. Capital City Trust Co. FL increased its stake in shares of Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after acquiring an additional 26 shares during the period. Finally, Ruedi Wealth Management Inc. grew its position in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the last quarter. 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.