Home Depot (NYSE:HD) Trading 0.4% Higher - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares shot up 0.4% during trading on Tuesday . The stock traded as high as $359.83 and last traded at $358.44. 603,809 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,449,562 shares. The stock had previously closed at $356.92.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wedbush reissued an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial dropped their target price on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Ten equities research 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 stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Trading Up 0.6 %

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 firm has a market cap of $360.44 billion, a P/E ratio of 24.62, a PEG ratio of 4.03 and a beta of 1.09. The company's 50 day moving average is $362.01 and its two-hundred day moving average is $391.28.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $39.15 billion. During the same quarter last year, the business posted $2.82 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HD. Principal Financial Group Inc. increased its holdings in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after purchasing an additional 141,915 shares during the period. Morse Asset Management Inc raised its stake in shares of Home Depot by 12.9% during the third quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock valued at $12,357,000 after acquiring an additional 3,493 shares during the last quarter. Invst LLC raised its position in shares of Home Depot by 1.7% during the third quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock valued at $2,719,000 after buying an additional 115 shares during the last quarter. McIlrath & Eck LLC lifted its position in Home Depot by 4.5% in the third quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock worth $1,089,000 after buying an additional 115 shares during the last quarter. Finally, Tudor Financial Inc. purchased a new position in shares of Home Depot during the third quarter worth approximately $1,027,000. Institutional investors own 70.86% of the company's stock.

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.