Home Depot (NYSE:HD) Shares Up 0.1% – Should You Buy?

The Home Depot, Inc. (NYSE:HD) rose 0.1% on Wednesday . The company traded as high as $384.04 and last traded at $382.07. Approximately 565,071 shares were traded during trading, a decline of 83% from the average daily volume of 3,247,554 shares. The stock had previously closed at $381.68.

Analyst Ratings Changes

Several research firms have issued reports on HD. Bank of America lifted their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

The company has a fifty day moving average of $401.00 and a 200 day moving average of $399.71. 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 stock has a market cap of $383.97 billion, a P/E ratio of 26.26, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. 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 2.38%. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HD. SYM FINANCIAL Corp lifted its stake in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Wealth Group Ltd. acquired a new position in Home Depot in the 3rd quarter worth approximately $217,000. Swedbank AB boosted its stake in Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. Roman Butler Fullerton & Co. grew its position in Home Depot by 0.3% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 9,311 shares of the home improvement retailer’s stock worth $3,869,000 after purchasing an additional 28 shares in the last quarter. Finally, Intact Investment Management Inc. raised its stake in Home Depot by 8.4% during the 3rd quarter. Intact Investment Management Inc. now owns 56,875 shares of the home improvement retailer’s stock valued at $23,046,000 after purchasing an additional 4,400 shares during the period. 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.