Home Depot (NYSE:HD) Shares Up 0.1% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report) shot up 0.1% during mid-day trading on Friday . The company traded as high as $380.34 and last traded at $379.11. 765,222 shares traded hands during trading, a decline of 78% from the average session volume of 3,408,588 shares. The stock had previously closed at $378.63.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HD. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Home Depot from $450.00 to $410.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Gordon Haskett cut shares of Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of Home Depot from $470.00 to $410.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Wedbush reiterated an "outperform" rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $430.32.

Home Depot Trading Up 0.4%

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 company has a market cap of $378.04 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.03 and a beta of 1.05. The business's 50-day simple moving average is $357.87 and its 200-day simple moving average is $388.12.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.42%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of the stock. K.J. Harrison & Partners Inc lifted its position in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. acquired a new stake in Home Depot in the fourth quarter valued at $409,000. JPL Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at $3,193,000. Finally, Umpqua Bank raised its holdings in Home Depot by 26.5% in the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer's stock valued at $2,425,000 after acquiring an additional 1,294 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

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