Home Depot (NYSE:HD) Trading 1.1% Higher – Should You Buy?

The Home Depot, Inc. (NYSE:HD) shares traded up 1.1% during trading on Tuesday . The stock traded as high as $394.20 and last traded at $393.29. 690,166 shares changed hands during trading, a decline of 75% from the average session volume of 2,810,217 shares. The stock had previously closed at $389.18.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Guggenheim upped their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Finally, DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

The company has a market capitalization of $406.50 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 4.11 and a beta of 1.05. The stock’s fifty day simple moving average is $406.24 and its 200-day simple moving average is $386.78. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.81 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on 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 transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently modified their holdings of HD. Charles Schwab Trust Co raised its holdings in Home Depot by 5.6% in the fourth quarter. Charles Schwab Trust Co now owns 6,827 shares of the home improvement retailer’s stock valued at $2,656,000 after buying an additional 365 shares during the period. Aspiriant LLC increased its position in shares of Home Depot by 1.5% in the fourth quarter. Aspiriant LLC now owns 6,109 shares of the home improvement retailer’s stock worth $2,376,000 after acquiring an additional 92 shares in the last quarter. Royal Fund Management LLC raised its stake in shares of Home Depot by 9.0% in the 4th quarter. Royal Fund Management LLC now owns 5,270 shares of the home improvement retailer’s stock valued at $2,050,000 after acquiring an additional 434 shares during the period. Reliant Investment Management LLC lifted its holdings in shares of Home Depot by 0.3% during the 4th quarter. Reliant Investment Management LLC now owns 19,306 shares of the home improvement retailer’s stock valued at $7,510,000 after acquiring an additional 50 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.