Home Depot (NYSE:HD) Stock Price Down 1.4% – Here’s Why

The Home Depot, Inc. (NYSE:HD) traded down 1.4% on Thursday . The company traded as low as $387.45 and last traded at $388.25. 1,052,698 shares traded hands during trading, a decline of 69% from the average session volume of 3,364,609 shares. The stock had previously closed at $393.82.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Stifel Nicolaus boosted their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 2.0 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $389.99 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.93 and a beta of 1.03. The company’s 50-day moving average is $410.40 and its 200-day moving average is $380.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the firm posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insider Buying and Selling at Home Depot

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

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of the stock. Independent Solutions Wealth Management LLC increased its position in shares of Home Depot by 8.8% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 8,652 shares of the home improvement retailer’s stock valued at $3,506,000 after purchasing an additional 701 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Home Depot by 0.6% in the third quarter. Lord Abbett & CO. LLC now owns 125,350 shares of the home improvement retailer’s stock valued at $50,792,000 after buying an additional 776 shares during the last quarter. Brass Tax Wealth Management Inc. raised its stake in Home Depot by 30.5% in the third quarter. Brass Tax Wealth Management Inc. now owns 788 shares of the home improvement retailer’s stock valued at $319,000 after buying an additional 184 shares in the last quarter. Legacy Wealth Management LLC MS lifted its holdings in Home Depot by 43.0% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 1,288 shares of the home improvement retailer’s stock worth $522,000 after buying an additional 387 shares during the last quarter. Finally, Alternative Investment Advisors LLC. purchased a new position in shares of Home Depot in the 3rd quarter valued at about $242,000. 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.