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

The Home Depot, Inc. (NYSE:HD)’s stock price was up 0.1% during trading on Thursday . The stock traded as high as $402.29 and last traded at $400.07. Approximately 430,394 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,360,017 shares. The stock had previously closed at $399.64.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HD shares. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI decreased their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. DA Davidson upped their target price on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two 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 target price of $410.67.

Home Depot Price Performance

The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company’s fifty day moving average price is $388.23 and its 200 day moving average price is $359.43. The firm has a market capitalization of $397.59 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 earnings per share. Equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. International Assets Investment Management LLC grew its holdings in Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the first quarter worth approximately $513,016,000. Price T Rowe Associates Inc. MD lifted its position in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Swedbank AB bought a new position in Home Depot during the 1st quarter valued at $301,364,000. 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.