Home Depot (NYSE:HD) Stock Price Up 0.9% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price was up 0.9% during mid-day trading on Wednesday . The stock traded as high as $396.14 and last traded at $396.14. Approximately 1,392,629 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 3,386,831 shares. The stock had previously closed at $392.45.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Oppenheimer boosted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Loop Capital upgraded shares of 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. Evercore ISI lifted their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Gordon Haskett upgraded 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.9 %

The company has a market capitalization of $393.51 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.93 and a beta of 1.03. The business’s 50-day moving average is $409.53 and its 200-day moving average is $382.01. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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, topping analysts’ consensus estimates of $3.64 by $0.14. The company 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%. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.81 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.27%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc increased its stake in 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 buying an additional 5,879 shares during the period. Pegasus Asset Management Inc. raised its holdings in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB grew its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. LGT Group Foundation increased its holdings in Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after buying an additional 147,482 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Home Depot by 14.3% in the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock valued at $273,055,000 after buying an additional 84,062 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

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.