Home Depot (NYSE:HD) Trading 0.4% Higher

The Home Depot, Inc. (NYSE:HD) was up 0.4% during mid-day trading on Wednesday . The company traded as high as $341.71 and last traded at $339.68. Approximately 653,133 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,425,553 shares. The stock had previously closed at $338.32.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HD shares. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and boosted their price target for the company from $352.00 to $395.00 in a report on Wednesday. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. TD Cowen lowered their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Finally, HSBC lowered their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Price Performance

The company has a market capitalization of $338.62 billion, a P/E ratio of 22.90, a P/E/G ratio of 2.36 and a beta of 1.00. The business’s 50-day simple moving average is $338.15 and its 200 day simple moving average is $352.59. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the previous year, the firm earned $3.82 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

Large investors have recently added to or reduced their stakes in the business. Bare Financial Services Inc bought a new stake in Home Depot in the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot in the fourth quarter worth approximately $27,000. Keener Financial Planning LLC bought a new stake in Home Depot in the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC grew its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot in the fourth quarter worth approximately $35,000. 70.86% of the stock is owned by 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.