Home Depot (NYSE:HD) Shares Up 0.7% – Should You Buy?

The Home Depot, Inc. (NYSE:HD) shares shot up 0.7% during trading on Wednesday . The stock traded as high as $367.95 and last traded at $367.93. 556,667 shares traded hands during trading, a decline of 84% from the average session volume of 3,436,422 shares. The stock had previously closed at $365.52.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. 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 research note on Monday, February 10th. Finally, Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Up 1.3 %

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 firm has a market capitalization of $367.93 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 4.03 and a beta of 1.08. The firm has a fifty day moving average price of $388.06 and a 200 day moving average price of $398.84.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. POM Investment Strategies LLC grew its holdings in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. boosted its position in shares of Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after buying an additional 24 shares in the last quarter. Insight Inv LLC grew its stake in Home Depot by 2.0% in the 3rd 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 during the last quarter. Marino Stram & Associates LLC increased its holdings 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 in the last quarter. Finally, Live Oak Private Wealth LLC increased its holdings in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after acquiring an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.