Home Depot (NYSE:HD) Shares Up 0.7% – Should You Buy?

The Home Depot, Inc. (NYSE:HD) traded up 0.7% during trading on Wednesday . The company traded as high as $354.38 and last traded at $351.90. 511,400 shares were traded during trading, a decline of 84% from the average session volume of 3,192,194 shares. The stock had previously closed at $349.57.

Wall Street Analyst Weigh In

Several research firms have commented on HD. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 1.6 %

The stock’s 50 day simple moving average is $394.73 and its two-hundred day simple moving average is $398.78. The firm has a market cap of $347.58 billion, a P/E ratio of 23.84, a P/E/G ratio of 4.03 and a beta of 1.09. 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 data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth $28,000. Navigoe LLC bought a new position in shares of Home Depot during the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $32,000. Finally, Quarry LP increased its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.