Home Depot (NYSE:HD) Shares Up 1.1% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shot up 1.1% during trading on Thursday . The stock traded as high as $375.92 and last traded at $376.92. 559,982 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,413,231 shares. The stock had previously closed at $372.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HD. Morgan Stanley lowered their price target on Home Depot from $450.00 to $410.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Finally, Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $430.32.

Home Depot Trading Up 1.2%

The stock's 50-day moving average is $357.77 and its two-hundred day moving average is $388.29. 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 $374.86 billion, a P/E ratio of 25.62, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 EPS. Home Depot's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities 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 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. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.44%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter worth $29,000. Abound Financial LLC purchased a new position in Home Depot in the first quarter valued at $31,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $32,000. 70.86% of the stock is 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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