Home Depot (NYSE:HD) Trading Up 2.4% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares were up 2.4% on Monday . The stock traded as high as $430.17 and last traded at $430.08. Approximately 950,965 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,384,224 shares. The stock had previously closed at $420.00.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $360.00 to $455.00 in a report on Friday, November 8th. Royal Bank of Canada lifted their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Melius Research initiated 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 on the stock. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 2.1 %

The company has a market capitalization of $425.82 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 2.92 and a beta of 1.01. The firm has a 50-day moving average price of $403.23 and a two-hundred day moving average price of $369.25. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company posted $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WFA Asset Management Corp raised its stake in shares of Home Depot by 10.7% in the first quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after buying an additional 135 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after purchasing an additional 623 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Home Depot in the first quarter worth about $430,000. Industrial Alliance Investment Management Inc. raised its position in shares of Home Depot by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,728 shares of the home improvement retailer’s stock valued at $1,046,000 after purchasing an additional 103 shares during the period. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Home Depot by 32.4% during the 1st quarter. Icon Wealth Advisors LLC now owns 13,305 shares of the home improvement retailer’s stock valued at $5,104,000 after buying an additional 3,257 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.