Home Depot (NYSE:HD) Trading 0.2% Higher – Time to Buy?

The Home Depot, Inc. (NYSE:HD) shares rose 0.2% on Wednesday . The company traded as high as $385.10 and last traded at $384.89. Approximately 433,234 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,113,816 shares. The stock had previously closed at $384.23.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HD. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Piper Sandler raised their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $382.95 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 2.90 and a beta of 1.05. The business’s fifty day moving average price is $406.45 and its 200-day moving average price is $385.03.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the company posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.33%. Home Depot’s payout ratio is presently 61.14%.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter valued at about $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter valued at about $46,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot in the 2nd quarter worth approximately $47,000. Finally, Quarry LP boosted its stake in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 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.