Home Depot (NYSE:HD) Trading 0.3% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler decreased 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. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 0.2 %

The company has a 50 day simple moving average of $391.94 and a 200 day simple moving average of $398.90. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $360.52 billion, a PE ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share 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. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Norges Bank acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. purchased a new position in Home Depot in the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the period. Northern Trust Corp boosted its position in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth $471,189,000. Institutional investors and hedge funds 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.