Home Depot (NYSE:HD) Trading 2.6% Higher – Time to Buy?

The Home Depot, Inc. (NYSE:HD) shares rose 2.6% on Friday . The stock traded as high as $357.50 and last traded at $354.85. Approximately 3,231,380 shares changed hands during trading, a decline of 7% from the average daily volume of 3,470,132 shares. The stock had previously closed at $345.99.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HD shares. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Trading Up 2.6 %

The firm has a market cap of $352.73 billion, a P/E ratio of 24.11, a P/E/G ratio of 4.03 and a beta of 1.09. The stock has a 50 day simple moving average of $369.30 and a 200-day simple moving average of $394.20. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.82 earnings per share. On average, equities research 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. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. Home Depot’s payout ratio is 61.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. K.J. Harrison & Partners Inc lifted its stake in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares during the period. Pensionfund Sabic grew its position in Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Disciplined Investors L.L.C. bought a new position in shares of Home Depot in the fourth quarter worth about $409,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.