Home Depot (NYSE:HD) Stock Price Up 0.7% – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s share price rose 0.7% during mid-day trading on Friday . The stock traded as high as $359.96 and last traded at $358.29. Approximately 1,595,858 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 3,438,051 shares. The stock had previously closed at $355.91.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Truist Financial cut their target price 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. Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Price Performance

The firm has a fifty day moving average price of $384.89 and a two-hundred day moving average price of $398.25. The stock has a market capitalization of $351.67 billion, a P/E ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the business. Webster Bank N. A. raised its position in Home Depot by 0.9% in the 1st quarter. Webster Bank N. A. now owns 19,838 shares of the home improvement retailer’s stock worth $7,270,000 after buying an additional 175 shares during the last quarter. Sage Capital Advisors llc lifted its position in Home Depot by 0.9% during the first quarter. Sage Capital Advisors llc now owns 19,642 shares of the home improvement retailer’s stock valued at $7,199,000 after purchasing an additional 176 shares during the period. Legacy Private Trust Co. boosted its holdings in Home Depot by 21.4% in the first quarter. Legacy Private Trust Co. now owns 8,217 shares of the home improvement retailer’s stock worth $3,011,000 after purchasing an additional 1,450 shares during the last quarter. Versant Capital Management Inc grew its position in Home Depot by 25.5% in the 1st quarter. Versant Capital Management Inc now owns 8,219 shares of the home improvement retailer’s stock worth $3,012,000 after purchasing an additional 1,672 shares during the period. Finally, First Citizens Financial Corp raised its stake in Home Depot by 1.0% during the 1st quarter. First Citizens Financial Corp now owns 5,373 shares of the home improvement retailer’s stock valued at $1,969,000 after buying an additional 52 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.