Home Depot (NYSE:HD) Trading 0.6% Higher – Still a Buy?

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HD. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. 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, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered 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. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Up 0.4 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $360.03 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.03 and a beta of 1.09. The firm has a fifty day simple moving average of $392.82 and a 200-day simple moving average of $399.16.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 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 quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Institutional Trading of Home Depot

A number of institutional investors have recently made changes to their positions in HD. POM Investment Strategies LLC raised its holdings in Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. raised its stake in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares during the period. Insight Inv LLC lifted its holdings in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC increased its holdings in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after purchasing an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC raised its position in shares of Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares during the period. 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.