Home Depot (NYSE:HD) Trading Up 2.5% – Time to Buy?

The Home Depot, Inc. (NYSE:HD) shares were up 2.5% on Thursday . The stock traded as high as $353.61 and last traded at $354.51. Approximately 824,392 shares changed hands during trading, a decline of 78% from the average daily volume of 3,679,958 shares. The stock had previously closed at $345.99.

Wall Street Analyst Weigh In

HD has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Truist Financial dropped their price objective on shares of Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $434.08.

Home Depot Trading Up 2.9 %

The firm has a market cap of $353.95 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average of $371.71 and a two-hundred day moving average of $395.04. 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, February 25th. The home improvement retailer reported $3.13 EPS 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 firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot in the 4th quarter valued at $28,000. Navigoe LLC purchased a new position in Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP boosted its position in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is currently 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.