Home Depot (NYSE:HD) Trading Up 0.3% – Still a Buy?

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0.3% on Thursday . The company traded as high as $365.09 and last traded at $363.23. 777,786 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,501,974 shares. The stock had previously closed at $362.13.

Analysts Set New Price Targets

HD has been the subject of several research reports. 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 report on Monday, March 24th. Wells Fargo & Company increased their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, 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 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 assigned a strong buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Price Performance

The firm has a fifty day moving average of $389.98 and a two-hundred day moving average of $398.60. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 EPS. On average, analysts predict 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. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Capital Research Global Investors raised its holdings in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp grew its holdings in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Hedge funds and other 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.