Home Depot (NYSE:HD) Trading 0.8% Higher – Still a Buy?

The Home Depot, Inc. (NYSE:HD)’s share price was up 0.8% during mid-day trading on Monday . The company traded as high as $393.51 and last traded at $392.45. Approximately 927,976 shares traded hands during trading, a decline of 49% from the average daily volume of 1,819,538 shares. The stock had previously closed at $389.18.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HD shares. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada increased their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. One equities 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 stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

The company has a 50 day moving average price of $406.94 and a 200 day moving average price of $384.58. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $386.73 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.90 and a beta of 1.05.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC bought a new position in shares of Home Depot during the 2nd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 3rd quarter valued at about $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth $47,000. Finally, Quarry LP boosted its position in Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares in the last quarter. 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.