Home Depot (NYSE:HD) Shares Up 2.6% – Still a Buy?

The Home Depot, Inc. (NYSE:HD) was up 2.6% on Wednesday . The company traded as high as $408.00 and last traded at $403.16. Approximately 1,656,372 shares changed hands during trading, a decline of 44% from the average daily volume of 2,977,569 shares. The stock had previously closed at $392.78.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HD shares. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their target price for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price objective on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Bank of America boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler raised their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Up 0.0 %

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 firm has a market capitalization of $406.70 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.11 and a beta of 1.05. The company has a fifty day moving average price of $406.44 and a two-hundred day moving average price of $386.94.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the business earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc increased its holdings in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. boosted its position in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after acquiring an additional 86 shares in the last quarter. Pensionfund Sabic increased its holdings in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Swedbank AB raised its position in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the last quarter. 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.