Home Depot (NYSE:HD) Stock Price Down 1.9% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares fell 1.9% during trading on Wednesday . The stock traded as low as $394.48 and last traded at $395.84. 889,315 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,924,125 shares. The stock had previously closed at $403.31.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $433.44.

Home Depot Trading Down 2.5 %

The company has a market capitalization of $382.26 billion, a P/E ratio of 26.14, a P/E/G ratio of 4.04 and a beta of 1.05. The company has a 50-day simple moving average of $402.77 and a 200 day simple moving average of $397.00. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Hedge Funds Weigh In On Home Depot

Several large investors have recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP lifted its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.