Home Depot (NYSE:HD) Stock Price Up 0% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price traded up 0% on Wednesday . The stock traded as high as $375.79 and last traded at $373.64. 571,483 shares traded hands during trading, a decline of 83% from the average session volume of 3,426,021 shares. The stock had previously closed at $373.60.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial increased their target price on Home Depot from $391.00 to $393.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their target price 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $430.32.

Home Depot Price Performance

The company has a market cap of $371.09 billion, a P/E ratio of 25.36, a PEG ratio of 4.03 and a beta of 1.05. The company has a fifty day simple moving average of $357.86 and a 200-day simple moving average of $388.40. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last posted 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. The company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. On average, sell-side analysts predict 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 given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.46%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norinchukin Bank The increased its stake in Home Depot by 14.3% in the 1st quarter. Norinchukin Bank The now owns 63,432 shares of the home improvement retailer's stock valued at $23,247,000 after buying an additional 7,918 shares during the period. CW Advisors LLC grew its holdings in shares of Home Depot by 9.1% during the 1st quarter. CW Advisors LLC now owns 115,984 shares of the home improvement retailer's stock valued at $42,499,000 after acquiring an additional 9,714 shares in the last quarter. Summit Financial LLC grew its holdings in shares of Home Depot by 9.1% during the 1st quarter. Summit Financial LLC now owns 26,328 shares of the home improvement retailer's stock valued at $9,649,000 after acquiring an additional 2,199 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares in the last quarter. Finally, Martingale Asset Management L P grew its holdings in shares of Home Depot by 5.1% during the 1st quarter. Martingale Asset Management L P now owns 59,503 shares of the home improvement retailer's stock valued at $21,807,000 after acquiring an additional 2,888 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

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