Home Depot (NYSE:HD) Trading Up 1.1% Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD)’s share price was up 1.1% during trading on Wednesday after Evercore ISI raised their price target on the stock from $410.00 to $420.00. Evercore ISI currently has an outperform rating on the stock. Home Depot traded as high as $384.99 and last traded at $384.08. Approximately 415,601 shares were traded during trading, a decline of 87% from the average daily volume of 3,123,694 shares. The stock had previously closed at $379.93.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Home Depot in a report on Wednesday, February 21st. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a report on Wednesday, February 14th. Finally, Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $368.76.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in HD. Bare Financial Services Inc purchased a new position in shares of Home Depot in the 4th quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $27,000. VisionPoint Advisory Group LLC purchased a new position in shares of Home Depot in the 2nd quarter worth about $26,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $31,000. Finally, Fairfield Bush & CO. purchased a new position in shares of Home Depot in the 1st quarter worth about $27,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.6 %

The business has a fifty day moving average price of $368.47 and a 200 day moving average price of $334.54. The company has a market capitalization of $380.13 billion, a PE ratio of 25.40, a P/E/G ratio of 2.51 and a beta of 0.99. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. Analysts expect that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

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.