Home Depot (NYSE:HD) Shares Up 1.1% – Still a Buy?

The Home Depot, Inc. (NYSE:HD) shares rose 1.1% during mid-day trading on Monday . The stock traded as high as $363.33 and last traded at $362.25. Approximately 891,411 shares traded hands during trading, a decline of 74% from the average daily volume of 3,439,605 shares. The stock had previously closed at $358.15.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Royal Bank of Canada reduced their target price 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. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market cap of $363.63 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 4.03 and a beta of 1.09. The company’s 50 day moving average price is $389.98 and its 200 day moving average price is $398.99.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Institutional Trading of Home Depot

Several large investors have recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot during the 4th quarter valued at approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at approximately $32,000. Finally, Quarry LP boosted its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.