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

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.6% during trading on Friday . The stock traded as high as $395.99 and last traded at $392.80. Approximately 641,552 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,190,984 shares. The stock had previously closed at $390.27.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

The stock has a market capitalization of $394.06 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock’s 50 day moving average price is $401.36 and its 200-day moving average price is $399.06. 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 released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $2.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Institutional Investors Weigh In On Home Depot

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

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.