Home Depot (NYSE:HD) Trading Up 1.3%

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 1.3% during mid-day trading on Thursday . The company traded as high as $391.87 and last traded at $389.04. 1,034,383 shares changed hands during trading, a decline of 69% from the average session volume of 3,368,093 shares. The stock had previously closed at $384.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Evercore ISI cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. DA Davidson upped their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.04.

Home Depot Stock Up 1.5 %

The business’s 50 day simple moving average is $363.62 and its 200-day simple moving average is $354.13. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company has a market cap of $386.39 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.31%. Home Depot’s payout ratio is 60.36%.

Institutional Trading of Home Depot

Several large investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $27,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the second quarter valued at approximately $33,000. Burkett Financial Services LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the first quarter worth $38,000. 70.86% of the stock is 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.