Home Depot (NYSE:HD) Stock Price Up 1.1% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) were up 1.1% on Wednesday . The stock traded as high as $360.47 and last traded at $357.81. Approximately 4,160,338 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 3,602,391 shares. The stock had previously closed at $354.03.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Gordon Haskett decreased their target price on shares of Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, November 19th. Wolfe Research cut their target price on Home Depot from $497.00 to $423.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. Royal Bank Of Canada reduced their price target on Home Depot from $401.00 to $376.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 19th. DZ Bank reiterated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. Finally, UBS Group cut their price objective on Home Depot from $475.00 to $445.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $403.93.

Home Depot Stock Performance

The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The firm has a market cap of $356.20 billion, a P/E ratio of 24.39, a P/E/G ratio of 6.30 and a beta of 1.06. The business has a fifty day simple moving average of $376.35 and a 200-day simple moving average of $380.30.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.6%. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Parvin Asset Management LLC lifted its holdings in shares of Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in Home Depot in the 2nd quarter worth about $28,000. Sagard Holdings Management Inc. purchased a new position in Home Depot in the 2nd quarter worth about $29,000. Financially Speaking Inc bought a new position in Home Depot during the 3rd quarter valued at about $31,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $32,000. 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.