Home Depot (NYSE:HD) Shares Up 3.5% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 3.5% on Monday . The company traded as high as $378.72 and last traded at $375.37. 1,054,772 shares were traded during trading, a decline of 69% from the average session volume of 3,431,831 shares. The stock had previously closed at $362.71.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HD. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $430.32.

Home Depot Stock Up 3.7%

The firm has a market cap of $373.82 billion, a P/E ratio of 25.55, a P/E/G ratio of 4.03 and a beta of 1.05. The business’s fifty day moving average price is $358.23 and its two-hundred day moving average price is $388.66. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the previous year, the company earned $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Institutional Trading of Home Depot

Institutional investors and hedge funds have recently modified their holdings of the company. K.J. Harrison & Partners Inc grew its holdings in shares of Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares in the last quarter. Wedmont Private Capital boosted its stake in Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares in the last quarter. Disciplined Investors L.L.C. acquired a new stake in Home Depot in the 4th quarter valued at $409,000. Finally, Johnson & White Wealth Management LLC acquired a new stake in Home Depot in the 4th quarter valued at $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.