Home Depot (NYSE:HD) Shares Up 0.6% – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s share price was up 0.6% on Wednesday . The company traded as high as $364.73 and last traded at $363.29. Approximately 690,980 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 3,206,852 shares. The stock had previously closed at $360.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Trading Down 1.3 %

The company has a 50-day simple moving average of $391.01 and a 200-day simple moving average of $398.65. 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 stock has a market cap of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly 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 business 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.57%. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Quarry LP boosted its stake 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 acquiring an additional 66 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

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.