Home Depot (NYSE:HD) Trading 0% Higher – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0% during trading on Wednesday . The stock traded as high as $416.84 and last traded at $415.69. 458,695 shares were traded during mid-day trading, a decline of 86% from the average session volume of 3,369,330 shares. The stock had previously closed at $415.58.

Analyst Ratings Changes

A number of research analysts have issued reports on HD shares. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. DA Davidson lifted their price objective on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Price Performance

The firm has a market cap of $411.53 billion, a P/E ratio of 27.75, a PEG ratio of 2.88 and a beta of 1.00. The company has a fifty day moving average price of $383.77 and a two-hundred day moving average price of $358.20. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after acquiring an additional 1,195 shares during the last quarter. Commonwealth Retirement Investments LLC increased its holdings in shares of Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after acquiring an additional 965 shares during the last quarter. Swedbank AB increased its holdings in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Finally, Leeward Financial Partners LLC increased its holdings in shares of Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after acquiring an additional 711 shares during the last quarter. Institutional investors and hedge funds 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.