Home Depot (NYSE:HD) Trading Up 1.2% – Time to Buy?

The Home Depot, Inc. (NYSE:HD) was up 1.2% on Thursday . The company traded as high as $395.22 and last traded at $395.30. Approximately 784,319 shares were traded during trading, a decline of 76% from the average daily volume of 3,202,602 shares. The stock had previously closed at $390.48.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HD. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

The company has a market cap 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 has a fifty day simple moving average of $401.36 and a two-hundred day simple moving average of $398.72. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced 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 for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

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

Institutional Trading of Home Depot

Several large investors have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in Home Depot during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $32,000. Finally, Quarry LP raised its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. 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.