Home Depot (NYSE:HD) Stock Price Up 0.3% – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s stock price shot up 0.3% during trading on Friday . The stock traded as high as $414.45 and last traded at $410.58. 1,241,506 shares changed hands during trading, a decline of 59% from the average session volume of 3,026,669 shares. The stock had previously closed at $409.33.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Guggenheim increased their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 0.1 %

The stock has a fifty day moving average of $406.24 and a two-hundred day moving average of $386.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market cap of $407.06 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 4.11 and a beta of 1.05.

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

Home Depot Announces Dividend

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

Insider Activity at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Abacus Wealth Partners LLC increased its holdings in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares during the last quarter. Insight Inv LLC raised its holdings in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares in the last quarter. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after acquiring an additional 25 shares during the last quarter. Finally, Capital City Trust Co. FL grew its holdings in Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after acquiring an additional 26 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.