Home Depot (NYSE:HD) Reaches New 1-Year High at $411.49

The Home Depot, Inc. (NYSE:HD)’s share price reached a new 52-week high on Thursday . The company traded as high as $411.49 and last traded at $407.70, with a volume of 240663 shares. The stock had previously closed at $411.26.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. Loop Capital increased their price target on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $396.23.

Home Depot Price Performance

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock’s 50 day moving average price is $371.14 and its two-hundred day moving average price is $355.75. The stock has a market cap of $407.33 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in Home Depot in the 2nd quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. purchased a new position in Home Depot in the 1st quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the 4th quarter worth about $39,000. 70.86% of the stock is owned by hedge funds and other 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.