Home Depot (NYSE:HD) Stock Price Down 1.3% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price dropped 1.3% during mid-day trading on Friday . The company traded as low as $406.88 and last traded at $408.80. Approximately 533,508 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 2,930,276 shares. The stock had previously closed at $414.16.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HD. Wells Fargo & Company upped their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen boosted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Morgan Stanley lifted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. One investment 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Down 1.6 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market cap of $404.68 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The stock’s 50-day moving average is $406.58 and its two-hundred day moving average is $393.70.

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, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.21%. Home Depot’s payout ratio is presently 61.14%.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’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 completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $32,000. NewSquare Capital LLC boosted its stake in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $41,000. 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.