Home Depot (NYSE:HD) Trading 1% Higher – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s stock price was up 1% on Monday . The stock traded as high as $358.58 and last traded at $357.42. Approximately 486,955 shares traded hands during mid-day 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 analysts recently issued reports on the stock. Truist Financial cut 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. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Price Performance

The firm has a market capitalization of $351.50 billion, a P/E ratio of 24.02, a P/E/G ratio of 4.03 and a beta of 1.09. The stock’s 50 day simple moving average is $372.94 and its 200 day simple moving average is $395.38. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 earnings per share. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc raised its position in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after acquiring an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Pensionfund Sabic raised its holdings in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares during the last quarter. Finally, Disciplined Investors L.L.C. bought a new stake in shares of Home Depot in the 4th quarter valued at about $409,000. 70.86% of the stock is currently owned by institutional investors.

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.