Home Depot (NYSE:HD) Shares Down 0.7% - Time to Sell?

The Home Depot, Inc. (NYSE:HD - Get Free Report) dropped 0.7% on Wednesday . The company traded as low as $352.38 and last traded at $356.32. Approximately 687,936 shares were traded during trading, a decline of 81% from the average daily volume of 3,613,545 shares. The stock had previously closed at $359.00.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HD. Truist Financial reduced their price target on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada cut their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Stock Up 1.3 %

The stock has a 50 day moving average price of $361.56 and a 200 day moving average price of $390.89. 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 $360.64 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot's payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter valued at $28,000. Navigoe LLC acquired a new stake in Home Depot during the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $32,000. Finally, Abound Financial LLC acquired a new position in shares of Home Depot in the 1st quarter valued at about $31,000. 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.