Home Depot (NYSE:HD) Trading 0.5% Higher - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price was up 0.5% during mid-day trading on Thursday . The company traded as high as $362.81 and last traded at $362.37. Approximately 1,229,323 shares changed hands during trading, a decline of 64% from the average daily volume of 3,455,690 shares. The stock had previously closed at $360.49.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HD shares. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Gordon Haskett lowered Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Royal Bank of Canada lowered their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $358.35 billion, a PE ratio of 24.50, a P/E/G ratio of 4.03 and a beta of 1.05. The company's 50-day simple moving average is $360.97 and its 200-day simple moving average is $390.16.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is currently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV lifted its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $5,032,910,000. Finally, Capital Research Global Investors boosted its holdings in shares of Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Institutional investors and hedge funds 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.