Home Depot (NYSE:HD) Stock Price Up 0.5% – Time to Buy?

The Home Depot, Inc. (NYSE:HD) shares shot up 0.5% during trading on Thursday . The company traded as high as $392.67 and last traded at $391.12. 463,907 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,126,833 shares. The stock had previously closed at $388.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HD. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. TD Cowen upped their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Down 0.5 %

The company has a market cap of $384.30 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 2.90 and a beta of 1.03. The business has a fifty day simple moving average of $407.42 and a 200 day simple moving average of $383.85. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business earned $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s 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 owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC increased its position in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after purchasing an additional 518,054 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.