Home Depot (NYSE:HD) Trading 1% Higher - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report) rose 1% during trading on Monday . The stock traded as high as $358.58 and last traded at $357.42. Approximately 486,955 shares traded hands during trading, a decline of 86% from the average daily volume of 3,478,055 shares. The stock had previously closed at $353.86.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of 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. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Truist Financial decreased their price objective on Home Depot from $437.00 to $391.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their price objective on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Trading Up 2.6 %

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 50-day moving average price of $370.53 and a 200-day moving average price of $394.69. The firm has a market capitalization of $352.73 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 analysts' expectations of $39.15 billion. During the same period in the previous year, the company posted $2.82 earnings per share. Home Depot's revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio is 61.66%.

Institutional Trading of Home Depot

Several institutional investors have recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter valued at $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP boosted its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the period. 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.