Home Depot (NYSE:HD) Trading Up 2.9% – Time to Buy?

The Home Depot, Inc. (NYSE:HD) shares traded up 2.9% on Monday . The stock traded as high as $361.77 and last traded at $361.50. 956,123 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,207,596 shares. The stock had previously closed at $351.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Robert W. Baird reduced their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler cut their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. boosted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their price objective on shares of 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 investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Performance

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50 day moving average price is $392.82 and its 200-day moving average price is $399.16. The firm has a market cap of $358.50 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The business 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%. During the same quarter last year, the company earned $2.82 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is 61.66%.

Institutional Trading of Home Depot

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

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.