Home Depot (NYSE:HD) Trading Up 0.5% – Should You Buy?

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.5% on Wednesday . The stock traded as high as $428.00 and last traded at $424.79. 889,632 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 3,359,377 shares. The stock had previously closed at $422.59.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer upped their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Stifel Nicolaus lifted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Guggenheim raised 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 0.6 %

The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $414.21 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.93 and a beta of 1.03. The business’s fifty day moving average price is $411.62 and its 200 day moving average price is $377.35.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm 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 business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $3.81 earnings per share. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. 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 the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last three months. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new position in Home Depot during the second quarter worth $40,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the third quarter valued at $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.