Home Depot (NYSE:HD) Stock Price Down 0.9% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s share price traded down 0.9% on Thursday . The stock traded as low as $391.62 and last traded at $392.63. 253,329 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 3,374,057 shares. The stock had previously closed at $396.14.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Finally, TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Down 0.6 %

The business’s fifty day moving average is $408.23 and its 200-day moving average is $382.62. The stock has a market capitalization of $390.25 billion, a PE ratio of 26.69, a P/E/G ratio of 2.93 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

Several hedge funds have recently bought and sold shares of the company. Lantz Financial LLC raised its holdings in Home Depot by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer’s stock worth $2,069,000 after buying an additional 89 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in Home Depot by 27.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 781 shares of the home improvement retailer’s stock worth $269,000 after purchasing an additional 170 shares during the period. Canal Capital Management LLC boosted its stake in Home Depot by 2.6% in the 2nd quarter. Canal Capital Management LLC now owns 15,768 shares of the home improvement retailer’s stock worth $5,428,000 after purchasing an additional 396 shares during the period. Intact Investment Management Inc. grew its holdings in shares of Home Depot by 66.6% during the 2nd quarter. Intact Investment Management Inc. now owns 52,475 shares of the home improvement retailer’s stock valued at $18,064,000 after acquiring an additional 20,975 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its stake in shares of Home Depot by 5.3% in the 2nd quarter. TrinityPoint Wealth LLC now owns 10,879 shares of the home improvement retailer’s stock valued at $3,745,000 after buying an additional 544 shares in the last quarter. 70.86% of the stock is currently 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.